Trump Extends Fundraising Lead over Biden in Second Quarter
In the latest round of fundraising for the 2024 presidential election, former President Donald Trump has maintained his financial advantage over incumbent President Joe Biden. Trump's campaign accrued $331 million in the second quarter, outpacing Biden's $264 million.
Trump, the presumptive Republican nominee, has raised a total of $67 million more than Biden since the start of the year. The latest fundraising figures released by the two campaigns underscore Trump's continued fundraising prowess, despite facing a crowded field of Republican challengers.
Biden's campaign, however, managed to outpace Trump in June, raising a record-breaking $127 million, including $38 million in the four days following the first presidential debate in Atlanta. The surge in contributions reflects a renewed enthusiasm among Biden's supporters, particularly in the wake of a strong debate performance.
Despite Biden's strong fundraising month, Trump's campaign maintains a cash-on-hand advantage, with $284.9 million compared to Biden's $240 million. This financial cushion provides Trump with greater flexibility in the campaign's final stretch.
The Trump campaign attributed its fundraising success to the former president's unwavering popularity among his base. President Trump's campaign fundraising operation is thriving day after day and month after month, said campaign officials Chris LaCivita and Susie Wiles.
They highlighted Biden's comparatively high spending on advertising, yet argued that it has failed to translate into tangible results. Despite Biden spending nearly USD 120 million on TV, cable and radio alone, polling and voter enthusiasm continue to grow for President Trump, they said.
The Biden-Harris campaign, on the other hand, emphasized the strength of its grassroots support. Nearly two-thirds of June's fundraising came from individual donors, and over $30 million of the post-debate contributions came from the same source.
June's USD 127 million haul was not just Team Biden-Harris' best month overall, it was the strongest grassroots month to date, the campaign said.
The campaign manager, Julie Chavez Rodriguez, framed the fundraising success as a testament to Biden's commitment to the American people. Our Q2 fundraising haul is a testament to the committed and growing base of supporters standing firmly behind the President and Vice President, she said.
She contrasted Biden's focus on strengthening democracy with Trump's perceived threats to its integrity. President Biden is building a positive future for our country – where every American has a fair shot, our rights are protected, and our president fights to strengthen our democracy – not tear it apart, she said.
Democratic National Committee Chair Jaime Harrison echoed Rodriguez's sentiment, emphasizing the importance of fundraising for the party's electoral success. These dollars will go to opening offices, hiring staff, and spreading Democrats' message of hope — all of which will power Joe Biden and Kamala Harris back to the White House, he said.
As the election season intensifies, both campaigns are expected to ramp up their fundraising efforts. The second quarter results provide a snapshot of the financial landscape heading into the crucial final months of the campaign.
