Biden Raises $71 Million in Third Quarter, Outpacing GOP Rivals

Biden Raises $71 Million in Third Quarter, Outpacing GOP Rivals

In a powerful display of fundraising prowess, President Joe Biden has raised an impressive $71 million in the third quarter, outpacing his Republican rivals, including former President Donald Trump. This total includes funds raised for Biden’s 2024 reelection campaign, the Democratic National Committee, and state parties, with a statement released on Sunday revealing a total of $91 million cash on hand across all entities. Despite the typical slowdown in fundraising during the summer months, Biden’s team experienced little dropoff, with over 843,000 donations received, 97% of which were in amounts under $200. This strong showing demonstrates the continued enthusiasm and support for President Biden, regardless of detractors’ criticisms.

Biden Raises $71 Million in Third Quarter, Outpacing GOP Rivals

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Biden’s Fundraising Haul

In the third quarter, President Joe Biden raised an impressive $71 million, nearly matching his fundraising haul from the previous three months. This fundraising success puts him well ahead of his Republican competitors, including former President Donald Trump. The total includes money raised for Biden’s 2024 reelection campaign, the Democratic National Committee (DNC), and state parties.

Total Includes Money Raised for Various Entities

The $71 million raised by Biden includes funds for various entities. A portion of the money will go towards Biden’s 2024 reelection campaign, ensuring that he has a substantial financial backing for his future endeavors. Additionally, contributions will be made to the Democratic National Committee and state parties, further supporting the Democratic agenda. The campaign reports having a total of $91 million in cash on hand across all entities.

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Comparison to Previous Quarter

Biden’s fundraising in the third quarter nearly matches the amount raised in the previous quarter. From April to June, Biden raised $72 million after launching his presidential campaign in late April. This consistent performance demonstrates the continued support and enthusiasm for Biden’s presidency and his policies.

Strong Performance in July through September Period

Typically, the period from July to September is slower for fundraising due to summer vacations. However, Biden’s team was able to maintain strong momentum during this time. The campaign received over 843,000 donations across all entities, with 97% of donations being under $200. This highlights the grassroots support and widespread enthusiasm for Biden’s presidency. Moreover, 112,000 individuals have committed to making monthly pledges to support Biden’s reelection effort.

Donor Support and Monthly Pledges

The strong fundraising numbers reflect the overwhelming support and enthusiasm for President Joe Biden. Donors have demonstrated their support through generous contributions, allowing Biden to raise substantial funds. The steady stream of monthly pledges further strengthens Biden’s financial position and ensures a consistent source of funding for his reelection campaign.

Exceeding Campaign Goals

Biden’s fundraising success in the third quarter surpasses the goals set by his campaign team. These achievements demonstrate the enthusiasm and support for Biden’s presidency, showcasing that actions speak louder than words. Despite criticism from some quarters, Biden’s fundraising performance confirms the strength of his base and their commitment to his leadership.

Enthusiasm among Democratic Donors vs. Broader Public

While Biden enjoys strong support from Democratic donors, it is essential to note that this enthusiasm is not universally shared by the broader public. According to the RealClearPolitics average of national polls, only 36.7% of voters approve of Biden’s handling of the economy, while 60.3% disapprove. Biden’s overall approval rating stands at 40.5%. These numbers indicate that there is room for improvement in public perception of his economic policies.

Donor Events and Fundraisers

To bolster fundraising momentum after the slower summer period, Biden’s campaign organized a series of donor events in various cities. Events took place in Phoenix, San Francisco, and New York, among others, attracting notable hosts and participants, including Vice President Kamala Harris. These fundraisers played a vital role in generating support and increasing donations for Biden’s campaign. Throughout the quarter, a total of 37 fundraisers were held, showcasing the commitment and dedication of Biden’s donor base.

Joint Fundraising Agreement and High-End Donors

Biden’s fundraising success is further bolstered by a joint fundraising agreement between his campaign, the DNC, and state parties. This agreement allows Biden to accept larger donations than his Republican rivals, as the maximum donation to the Biden Victory Fund is $929,600. This flexibility in fundraising enables Biden to secure substantial contributions from high-end donors and ensure a strong financial position for his campaign.

Grassroots Donors and Average Donation

While high-end donors play a significant role in Biden’s fundraising efforts, it is important to note the importance of grassroots donors. During the third quarter, more than 493,000 individuals contributed to Biden’s campaign, with an average donation of $40. Grassroots donors accounted for 49% of the total raised, showcasing the broad base of support behind Biden’s candidacy. This emphasis on grassroots contributions highlights the campaign’s commitment to inclusivity and ensuring that supporters from all backgrounds can contribute meaningfully.

Biden’s Fundraising vs. GOP Rivals

In comparison to his GOP rivals, Biden’s fundraising performance stands out. Former President Donald Trump raised $45.5 million in the third quarter, while Florida Governor Ron DeSantis raised $15 million. Biden’s fundraising far surpasses these numbers, solidifying his financial advantage in the race. These fundraising figures highlight the strength and commitment of Biden’s donor base, emphasizing the broad support he has behind his candidacy.

In conclusion, President Joe Biden’s fundraising success in the third quarter demonstrates the widespread support and enthusiasm for his presidency. With a total of $71 million raised, Biden outpaces his GOP rivals, including former President Donald Trump. The funds raised encompass various entities, including Biden’s 2024 reelection campaign, the DNC, and state parties. Despite criticism and lower public approval ratings, Biden’s fundraising performance showcases the commitment and dedication of his donor base. Through donor events, monthly pledges, and grassroots support, Biden has exceeded campaign goals and solidified his financial advantage. As the race for the 2024 election heats up, Biden’s strong fundraising positions him as a formidable candidate against his Republican counterparts.

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