President Biden has set a record for the most cash on hand by any Democratic candidate in history, but none of that cash will go toward legal costs.
Biden sets Democratic fundraising record
The Biden campaign announced the following:
today, team biden-Harris announced that it had raised more than $97 million in the fourth quarter of 2023, ending the year with a strong display of enthusiasm, strength, and historic resources heading into the election year. The team also reported having a historic $117 million in cash on hand. Highest total raised by Democratic candidates in history At this point in the cycle.
The Biden-Harris team's fourth quarter results were driven primarily by the power of grassroots support, which continued to grow in the fourth quarter.
December was the strongest grassroots fundraising month since its inception— breaking the record set just one month earlier in November.
Democrats have long had a fundraising advantage, and Republicans have tried and failed to break it. playing cards It famously ran out of money during the 2020 campaign, and could find itself in dire straits again in 2024.
Funding is a measure of the strength of support
of biden The campaign provided Politics USA with a breakdown of its recent quarterly fundraising.
- December was the strongest grassroots fundraising month since its inception— breaking the record set just one month earlier in November.
- Since its release, Nearly 1 million supporters have made more than 2.3 million donations, clearly demonstrating that donors are taking consistent action in the early stages of a fundraising program.
- Furthermore, at present, More than 130,000 sustained donors have pledged to donate monthly, nearly doubling that amount at this point in the 2020 cycle.
- 97% of total donations in Q4 were less than $200 The average grassroots donation was $41.88.
Biden is not raiding big corporations and billionaires for cash to sustain his campaign. His donations come from small donors, and those who donate to his campaign are some of the voters most likely to vote in November. At some level, it's common sense. A campaign contribution is a personal financial commitment. People who make such promises are almost certain to vote.
From a political perspective, the fundraising and cash-on-hand numbers make it clear that Biden has a passionate and committed base willing to fund his campaign and isn't going anywhere. I have to. This is an idea contrary to opinion polls and media reports.
Trump is using much of the money he raises to pay legal fees.
Trump was initially able to raise money from the indictment against him, but That fundraising dried up.
The former president reportedly bleeding cash About legal bills.President Trump is also reportedly not holding large rallies because much of the money he raises is consumed by legal costs. Because he can't afford to hold large gatherings.
Mr. Trump's legal costs will only increase as the trial approaches.
President Biden will be able to spend money on his campaign, helping other Democrats win.
Trump is spending money on Republican primaries and lawyers.
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Jason is the editor-in-chief. He is a White House correspondent and Congressional Correspondent for PoliticusUSA. Jason holds a bachelor's degree in political science. His graduate work focused on public policy and specialized in social reform movements.
Awards and professional membership
Member of the Society of Professional Journalists and the American Political Science Association