Biden outraises and outspends Trump in June as questions loom about the president’s political future
President Joe Biden outraised – and dramatically outspent – the campaign of Republican rival Donald Trump last month, new campaign reports filed Saturday show, raising questions about how long the president’s political team can operate at full throttle if
President Joe Biden raised more funds than his Republican opponent, Donald Trump, in the previous month but also spent much more, according to new campaign filings released on Saturday, which raises questions about the campaign's financial sustainability if donations were to decrease. Some big-dollar donors from the Democratic Party have expressed concerns about Biden's performance in the presidential debate last month, and there are increasing calls from certain elected officials for him to step aside and not seek a second term.
Biden's campaign increased its spending in June, per the filings with the Federal Election Commission, exceeding $59 million in expenses for advertising and other purposes. The principal campaign committee started July with nearly $96 million in its bank account, a substantial amount but not sufficient to maintain the high spending rate seen in June without additional funds. In contrast, Trump's campaign spent just under $10 million, leaving them with $128 million in reserves.
The Republican National Committee (RNC) had one of its strongest fundraising months in recent years in June, bringing in nearly $67 million, far surpassing the Democratic National Committee's (DNC) haul of $39.2 million for the same period. Trump's political operation has built a financial advantage heading into the final stretch of the general election.
Biden's campaign aides argue that they have effectively utilized the fundraising advantage from earlier in the year to establish a robust ground operation in crucial swing states, which they believe will lead to victory. They also noted that the campaign collected $38 million in the days following the debate, where Biden's performance was criticized. However, the reports filed on Saturday only cover the last few days of June after the debate, so the full financial impact of the debate and other key campaign events will not be clear until the campaigns submit more comprehensive fundraising and spending details in August.
CNN has previously reported that some donors are hesitant to contribute to Biden's campaign due to fears of a Republican wave in the November elections. There is also pressure from some Democrats for Biden to step aside. Despite this, a recent fundraiser in Cape Cod brought in over $2 million, and Vice President Kamala Harris, who would likely become the nominee if Biden were to exit the race, reassured attendees that victory is within reach.
The handling of the campaign funds if Biden were to step aside is also a point of contention, with some Republican lawyers arguing that the funds could not be transferred to Harris without Biden first becoming the party's official nominee. Trump's legal troubles have also been a significant fundraising tool, with contributions to his political operation spiking on the day of his conviction in the New York hush money case.
Trump's campaign spending remains significantly lower than Biden's, with much of their expenses going towards direct mail. Trump's campaign is also heavily reliant on support from conservative super PACs for data and fieldwork in battleground states. The leading pro-Biden super PAC, Future Forward, ended June with nearly $122 million, while the super PAC backing Trump, MAGA Inc., had nearly $114 million in available cash. The financial might of these outside groups underscores the importance of financial backing in the upcoming election.
Biden's campaign increased its spending in June, per the filings with the Federal Election Commission, exceeding $59 million in expenses for advertising and other purposes. The principal campaign committee started July with nearly $96 million in its bank account, a substantial amount but not sufficient to maintain the high spending rate seen in June without additional funds. In contrast, Trump's campaign spent just under $10 million, leaving them with $128 million in reserves.
The Republican National Committee (RNC) had one of its strongest fundraising months in recent years in June, bringing in nearly $67 million, far surpassing the Democratic National Committee's (DNC) haul of $39.2 million for the same period. Trump's political operation has built a financial advantage heading into the final stretch of the general election.
Biden's campaign aides argue that they have effectively utilized the fundraising advantage from earlier in the year to establish a robust ground operation in crucial swing states, which they believe will lead to victory. They also noted that the campaign collected $38 million in the days following the debate, where Biden's performance was criticized. However, the reports filed on Saturday only cover the last few days of June after the debate, so the full financial impact of the debate and other key campaign events will not be clear until the campaigns submit more comprehensive fundraising and spending details in August.
CNN has previously reported that some donors are hesitant to contribute to Biden's campaign due to fears of a Republican wave in the November elections. There is also pressure from some Democrats for Biden to step aside. Despite this, a recent fundraiser in Cape Cod brought in over $2 million, and Vice President Kamala Harris, who would likely become the nominee if Biden were to exit the race, reassured attendees that victory is within reach.
The handling of the campaign funds if Biden were to step aside is also a point of contention, with some Republican lawyers arguing that the funds could not be transferred to Harris without Biden first becoming the party's official nominee. Trump's legal troubles have also been a significant fundraising tool, with contributions to his political operation spiking on the day of his conviction in the New York hush money case.
Trump's campaign spending remains significantly lower than Biden's, with much of their expenses going towards direct mail. Trump's campaign is also heavily reliant on support from conservative super PACs for data and fieldwork in battleground states. The leading pro-Biden super PAC, Future Forward, ended June with nearly $122 million, while the super PAC backing Trump, MAGA Inc., had nearly $114 million in available cash. The financial might of these outside groups underscores the importance of financial backing in the upcoming election.