This is more than the amount they raised for the third quarter of 2023.
President Joe Biden’s campaign and its associated fundraising committees, supporting the Democratic National Committee (DNC) and state parties, announced a robust fundraising achievement of $97 million in the final quarter of 2023. The campaign highlighted a significant surge in contributions from small-dollar donors, contributing to a closing boost.
In addition to the impressive fundraising numbers, Biden’s campaign disclosed that its political apparatus entered 2024 with a formidable war chest of $117 million, providing insights into the financial landscape that the eventual Republican nominee will confront as the GOP initiates its nominating process with the Iowa caucuses.
This financial success builds on the momentum from earlier fundraising periods, with $72 million and $71 million raised in the second and third quarters, respectively. The exact breakdown of contributions from each fundraising entity will be disclosed in the campaign’s year-end reports filed with the Federal Election Committee by January 31.
Campaign manager Julie Chavez Rodriguez celebrated the historic fundraising achievement, attributing it to the growing grassroots enthusiasm within the Team Biden-Harris coalition. She emphasized that these fundraising numbers send a clear message about the significance of the upcoming election and the commitment of the American people to counter what was described as the “extreme MAGA Republican agenda.”
The surge in fundraising towards the end of the year coincided with the resolution of the Hollywood writers strike in late September. Notably, President Biden, Vice President Kamala Harris, and other key surrogates refrained from hosting high-dollar events in Southern California during the prolonged standoff.
Since Biden’s re-election campaign announcement in late April, the campaign reported the support of 1 million backers making 2.3 million donations. A noteworthy 130,000 sustaining donors contribute monthly, reflecting a sustained commitment. The average grassroots donation in the fourth quarter was $41.88, showcasing the strength of small-dollar giving.
The campaign attributed the acceleration in small-dollar contributions to the narrowing field of GOP candidates challenging former President Donald Trump. A campaign spokesperson expressed confidence that the fundraising momentum would outpace the GOP field by a significant margin.
While a direct comparison to the Republican field’s fundraising efforts is challenging at this point, as GOP candidates operate independently of the Republican National Committee and state parties, the Biden campaign anticipates a substantial advantage. Despite significant expenditures on advertising in the preceding year, Biden is strategically accumulating resources for the impending general election battle.
Acknowledging concerns about infrastructure in battleground states, the campaign reassured that it is gradually expanding state by state, with established leadership in the early-voting states on the Democratic primary calendar.
