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Politics

Biden has more money from fundraising, Trump has more small donor support


President Joe Biden is out fundraising former President Donald Trump this election season. Biden has about three times as much money on hand compared to Trump, but among small donors, Trump has more support.

Biden has raised $248 million compared to Trump’s $168 million. Not only is he raising more, Biden is also spending less than Trump on his campaign. Biden has spent $92 million, whereas Trump’s campaign spent $125 million.

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Last month, Biden and the Democratic Party raised a combined $53 million. On Thursday, March 28, a major fundraising event for Biden featuring former Presidents Obama and Clinton at Radio City Music Hall is predicted to raise more than $25 million.

Comparatively, Trump and the Republican National Committee only raised $31 million in February.

While Trump’s campaign has less money overall, it has raised more money than Biden among small donors — people who donate any amount under $200.

Among this group, Trump out raised Biden by about $10 million in January and February. That pace looks different from what happened in 2020, where Biden raised more in small donations.

Trump is also pulling money from fundraising for expenses unrelated to his campaign, using some to cover legal fees.

According to a donor form reviewed by The Washington Post, of the money in Trump’s joint fundraising with the Republican Party, the first $3,300 someone donates goes towards the primary campaign. If the donation surpasses that amount, the next $3,300 goes to the general campaign.

The next $5,000 someone gives goes towards the “Save America” PAC, which pays for a portion of Trump’s legal fees. According to a Forbes review of filings from Save America, the PAC has spent nearly $50 million since Trump’s first indictment was announced.

So how much does money matter in the 2024 election?

In 2020, Biden’s campaign was the first ever to raise over $1 billion. That year, Trump raised $774 million and Biden won the election. However, in 2016, Hillary Clinton raised twice as much money as Trump and lost.

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[KARAH RUCKER]

PRESIDENT BIDEN IS ALREADY OUT FUNDRAISING FORMER PRESIDENT TRUMP BY LARGE MARGINS THIS ELECTION CYCLE.

AND THAT’S BEFORE A MAJOR FUNDRAISING EVENT FOR BIDEN THURSDAY NIGHT AT NEW YORK’S RADIO CITY MUSIC HALL FEATURING FORMER PRESIDENTS OBAMA AND CLINTON.

ITS EXPECTED TO GARNER MORE THAN $25 MILLION.

LET’S TAKE A LOOK AT SOME OF THE MONEY BOTH CAMPAIGNS HAVE RAISED SO FAR.

YOU’LL NOTICE BIDEN OUTPACING TRUMP.

WITH CASH ON HAND? IT’S THREE TIMES AS MUCH.

BUT AMONG SMALL DONORS? IT’S TRUMP WITH MORE SUPPORT.

LET’S FIRST LOOK AT THE BIG PICTURE – THE TOTAL AMOUNT IN THE BANK FOR EACH CAMPAIGN.

BIDEN HAS RAISED $248 MILLION COMPARED TO TRUMP’S $168 MILLION.

BIDEN NOT ONLY OUT RAISING TRUMP BUT SPENDING LESS TOO.

$92 MILLION SPENT BY BIDEN COMPARED TO TRUMP’S CAMP SPENDING $125 MILLION.

IF YOU LOOK AT THE MOST RECENT FUNDRAISING NUMBERS AVAILABLE – THE TREND OF CASH FLOW FOR BIDEN CONTINUES.

LAST MONTH – BIDEN AND THE DEMOCRATIC PARTY RAISED A COMBINED $53 MILLION DOLLARS.

COMPARED TO TRUMP AND THE RNC’S $31 MILLION.

WHILE TRUMP’S CAMPAIGN HAS SIGNIFICANTLY LESS MONEY OVERALL –

THEY HAVE SO FAR RAISED MORE MONEY THAN BIDEN AMONG SMALL DONORS IN 2024.

THESE ARE PEOPLE WHO MAKE $5, $25, $50 DONATIONS TO A CAMPAIGN –

ANY AMOUNT SMALLER THAN $200.

AMONG THIS GROUP – TRUMP OUT RAISED BIDEN BY ABOUT $10 MILLION IN JANUARY AND FEBRUARY.

THAT PACE – THOUGH VERY EARLY – LOOKS A LOT DIFFERENT FROM WHAT WE  SAW HAPPEN IN 2020 – WHERE BIDEN RAISED A SIGNIFICANT AMOUNT MORE IN SMALL DONATIONS.

THE OTHER ISSUE TRUMP FACES –

FROM THE ALREADY SMALLER POT OF MONEY –

HE’S PULLING FUNDS FOR EXPENSES UNRELATED TO THE CAMPAIGN –

USING SOME OF THE MONEY RAISED TO COVER LEGAL FEES.

HERE’S WHAT THAT PROCESS LOOKS LIKE ACCORDING TO A DONOR FORM REVIEWED BY THE WASHINGTON POST.

OF THE MONEY IN TRUMP’S JOINT FUNDRAISING WITH THE REPUBLICAN PARTY –

THE FIRST $3,300 THAT SOMEONE DONATES GOES TOWARD THE PRIMARY CAMPAIGN.

IF THE DONATION SURPASSES THAT AMOUNT –

THEN THE NEXT $33 HUNDRED OF THE DONATION GOES TOWARD THE GENERAL CAMPAIGN.

IT’S THE NEXT FIVE THOUSAND DOLLARS THAT SOMEONE GIVES – THAT GOES TOWARD WHAT’S CALLED “THE SAVE AMERICA PAC.”

ITS THIS PAC THAT PAYS FOR A PORTION OF TRUMP’S LEGAL FEES.

ACCORDING TO A FORBES REVIEW OF FILINGS FROM SAVE AMERICA –

THEY’VE SPENT NEARLY $50 MILLION SINCE HIS FIRST INDICTMENT WAS ANNOUNCED.

SO HOW MUCH WILL MONEY MATTER IN THE 2024 ELECTION?

CAN BIG DONOR MONEY BUY SOMEONE AN ELECTION VICTORY?

IN 2020 – BIDEN’S CAMPAIGN WAS THE FIRST EVER TO RAISE MORE THAN $1Am BILLION.

THAT YEAR – TRUMP’S CAMPAIGN RAISED $774 MILLION.

AND BIDEN WON.

BUT IN 2016 – HILLARY CLINTON RAISED TWICE AS MUCH MONEY AS TRUMP –

AND LOST.