President Joe Biden and the Democratic National Committee managed to raise $85 million in May, marking it as the president’s second-best month for fundraising this cycle. However, this amount falls significantly short of the $141 million raised by former President Donald Trump’s political operation and the Republican National Committee during the same month. This disparity in fundraising figures underscores a shift in the presidential fundraising dynamic in recent weeks, favoring Trump, who has consistently outraised his opponent in the past two months.
A majority of the funds raised by the Biden campaign in May came from grassroots donors, indicating a strong and growing enthusiasm for the President and Vice President among the general public. The campaign’s fundraising efforts have been consistent and robust, attracting millions of people each month. According to Biden campaign manager Julie Chavez Rodriguez, the money raised is crucial for building an operation that can effectively reach and persuade the voters who will ultimately decide the election.
Trump’s fundraising momentum in May was largely fueled by small dollar donations following his trial and conviction on multiple charges. The campaign saw a significant boost in donations, with more than a third of the total amount raised coming in the 24 hours after the verdict was announced. Additionally, Trump’s affiliated super PACs have been receiving substantial donations, including a $50 million contribution from conservative megadonor Timothy Mellon to MAGA Inc.
While the Biden campaign has been aggressively building out a massive ground-game across the country, hiring its 1,000th staffer in May, the Trump campaign has been slower to staff up in key states. This disparity in staffing has raised concerns among some Republican strategists. However, despite the difference in operational strategies, both campaigns are expected to post impressive fundraising numbers for June.
As of now, Trump’s overall war chest trails behind Biden’s, as highlighted in April figures showing an $88 million versus $146 million gap. It remains to be seen whether Trump’s recent fundraising surge will help him catch up and build out his cash pile. Both campaigns are gearing up for a competitive fundraising battle, with Biden hosting star-studded fundraisers and Trump embarking on successful fundraising swings. The fundraising landscape continues to evolve, with both candidates vying for the financial support needed to secure victory in the upcoming election.
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