President Joe Biden speaks about his administration's economic agenda during an event at Prince George's Community College in Largo, Md., on Sept. 14.President Joe Biden and the Democratic National Committee raised more than $71 million for his re-election in the three months ending Sept. 30, a strong indication that party donors remain united behind him going into a 2024 race that may feature a rematch with Donald Trump.
Biden’s total has not topped the tally of the last Democratic president, Barack Obama, who raised $85.6 million with affiliated Democratic entities during the April-to-June quarter in 2011 when he launched his campaign for a second term. Obama did announce his candidacy three weeks earlier that April than did Biden in 2023.
During Trump’s re-election campaign in 2019, his campaign and related affiliates, as well as the Republican National Committee, raised $125 million in that year’s third quarter. But Biden’s campaign noted that it was trying to avoid raising the maximum allowed from its most enthusiastic donors, as Trump did in 2020 when he faced fundraising shortfalls in the final months of the campaign.
Biden’s campaign’s top priority until next year has been fundraising and keeping costs low. In September, however, it announced a 16-week, $25 million television and digital advertising blitz that focused on swing states and has promoted a variety of themes, including his administration’s efforts to defend abortion rights and lower drug prescription costs.
The campaign also said that its third-quarter totals included a large portion of the $25 million ad buy. The campaign expects donations to rise sharply beginning next summer as the election nears.
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