President Joe Biden and the Democratic National Committee managed to raise $85 million in May, marking it as the second-best month for fundraising this cycle, falling short only to March. This amount, while impressive, was significantly lower than the $141 million raised by former President Donald Trump’s political operation and the Republican National Committee during the same month. Despite the gap, the Biden campaign and its allies ended May with $212 million in cash on hand, showing a steady increase from the $192 million they held at the end of April.
A significant portion of the funds raised by the Biden campaign in May came from grassroots donors, indicating a broad base of support for the President and Vice President. Campaign manager Julie Chavez Rodriguez emphasized the importance of continuous fundraising efforts in building an operation that focuses on engaging and winning over crucial voter demographics. On the other hand, the Trump campaign saw a surge in small-dollar donations following Trump’s trial and conviction, demonstrating the impact of significant events on fundraising momentum.
The Biden team has been utilizing its financial resources to establish an extensive ground-game strategy nationwide, recently reaching a milestone of 1,000 staffers. In contrast, the Trump campaign has been slower in staffing key states, prompting concerns among Republican strategists. The shift in dynamics over the past few months has favored Trump, with his fundraising exceeding that of his opponent, leaving both campaigns poised to generate impressive figures in June.
Apart from individual donations, Trump’s affiliated super PACs have been receiving substantial contributions, such as the $50 million donation from conservative megadonor Timothy Mellon to MAGA Inc. following Trump’s recent legal matters. In comparison, Biden did not host any major fundraising events during May, highlighting differing approaches to financial support between the two presidential contenders.
As of April, Biden held a considerable lead in overall fundraising compared to Trump, with a war chest $60 million larger. However, the recent fundraising efforts by Trump and his allies have narrowed this gap, signaling a potentially tighter competition in financial resources as the election season progresses. Both campaigns are expected to continue their fundraising momentum through events and initiatives, aiming to strengthen their positions heading into the upcoming months.
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