President Joe Biden’s campaign says he might be back in the lead in the cash race.
On July 2, the principal Biden for President committee announced that it, the Democratic National Committee, and joint fundraising committees associated with the campaign collectively raised $127 million in June.
The haul brought the campaign’s total cash $240 million, the committee said in a release.
The figures cannot be independently verified yet, as none of the bodies regulated by the Federal Election Commission have issued public disclosure statements on their June activities.
However, committees reporting every quarter are due to release financials on July 15, and those publishing disclosures every month will do so on July 20.
That collection of documents will give the public the most transparent view of each candidate’s financial position in the 2024 election cycle.
“Our [second quarter] fundraising haul is a testament to the committed and growing base of supporters standing firmly behind the president and vice president and clear evidence that our voters understand the choice in this election,” Biden Campaign Manager Julie Chavez Rodriguez said in a release.
When political committees last revealed their bank balances on June 20, FEC disclosures showed former President Donald Trump had taken the cash advantage from President Biden.
The June revelations, which did not feature committees reporting on a quarterly basis, said fundraising groups associated with the Trump campaign ended May with about $214.8 million in cash on hand, while the Biden groups closed out the fifth month of the year with about $183.9 million in cash on hand.
In May, according to federal disclosures, Republican Party committees—the Republican National Committee, National Republican Congressional Committee, and National Republican Senatorial Committee—also outraised their Democratic Party counterparts for the first time in 2024.
When the Republicans last spoke about their fundraising, they said much of their money came in immediately after a New York court found former President Trump guilty of multiple felonies.
Similarly, the Biden campaign said it raised significant amounts of money after the June 27 debate between President Biden and former President Trump.
In a July 1 message, Biden For President noted: “Supporters have contributed more than $33 million” since the conclusion of the debate.
President Biden’s performance during the 90-minute broadcast led to speculation that the president would be replaced or dropped from the race.
The White House and the Biden campaign have refuted these reports.
In a July 2 release, the Biden campaign said it is using its money to reinforce its on-the-ground infrastructure and pay for advertisements targeting what it considers to be crucial voting blocs.
The campaign said it now has “more than 200” campaign offices and more than 1,000 staffers across the so-called battleground states.
In June, it spent $50 million on paid media campaigns targeting Latino, black, and Asian Americans as well as voters who supported former U.S. Ambassador to the United Nations Nikki Haley in her Republican primary contest against former President Trump.
Federal fundraising records show at least 14 billionaires support the Biden campaign.
In May, a super PAC supporting the Biden campaign received a $19 million check from entrepreneur Michael Bloomberg.
From The Epoch Times