President Joe Biden’s reelection bid raised $71 million in the third quarter of 2023, his campaign said, enough for him to more than double the cash on hand of former President Donald Trump, his most likely GOP challenger.
Biden now has $91 million on hand, according to his campaign, compared to the just $37.5 million Trump announced was available in his warchest. Both campaigns have until midnight tonight to submit official results to the Federal Election Commission.
Trump’s campaign says he raised $45.5 million in the third quarter, far outpacing his counterparts in the increasingly one-sided battle for the Republican nomination.
Biden’s fundraising has benefitted from his control of the Democratic National Committee, which allows him to rack in larger donations than would otherwise be allowed.
Democrats have worried about donor enthusiasm over the course of the past year, with a number of progressive and liberal organizations laying off staff because of less than expected fundraising.
The Biden campaign is aiming to calm the fretting, noting they’ve picked up 240,000 donors who did not donate to the campaign in 2020 and doubled the number of donors who have pledged to give every month when compared to last quarter.
“This quarter’s fundraising haul and historic cash on hand speak to the very real enthusiasm and support President Biden and Vice President Harris continue to build for their reelection bid,” said Julie Chavez Rodriguez, Biden’s campaign manager. “We are especially proud of our efforts to exponentially grow our grassroots donor base.”
