Joe Biden has access to over three times as much cash as Donald Trump and the Republican National Committee (RNC) have combined, according to a new revelation.
In the 2024 presidential contest, which will include both current and previous presidents, Biden’s campaign will have a significant financial edge.
Although Biden’s campaign was able to raise over $42 million in January of 2024, bringing their cash on hand to about $130 million prior to the election, Trump and the RNC have not yet released the amount of money they raised in January of the same year.
Biden’s fundraising experienced a notable surge after the Republican primary season commenced, with the campaign reporting a noteworthy achievement of raising $1 million for three consecutive days following the Iowa caucus, which saw Trump registering a significant victory.
When comparing the financial scene, Biden seems ready to surpass his predicted Republican opponent by a significant amount.
In the final quarter of 2023, Trump’s campaign reported raising $19 million, with $33 million in available funds. Federal Election Commission filings show that the RNC had $8 million in cash on hand during that same period.
Biden’s campaign manager, Julie Chavez Rodriguez, took a swipe at Trump and Republicans, suggesting they are either “spending money fighting Donald Trump or spending money in support of Donald Trump’s extreme and losing agenda.” She emphasised the strategic use of resources to build a winning operation that engages voters on the crucial aspects of the election.
Since announcing his intention to run for reelection in April of last year, Biden’s campaign has reported raising $278 million in total, with 97 per cent of the 3 million donations coming from contributions of less than $200.
On the other hand, Trump and his campaign are facing legal issues and financial difficulties. Trump’s campaign raised more than $60 million in the most recent election, claiming to have $200 million in cash on hand.
His present proposal, however, is characterised by tens of millions of dollars being spent on legal bills, along with fines exceeding $438 million for filing fraudulent financial statements and defamation.
With campaign finances proving insufficient to satisfy these fines, a GoFundMe website has raised more than $600,000 to help Trump with his financial obligations.
Even if Trump files for bankruptcy, legal experts predict he may still need to sell assets to pay off his $450 million debt from fraud and defamation claims.
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