In February, President Joe Biden’s campaign garnered $53 million, signaling a surge in donor engagement as the rematch between Biden and former President Donald Trump takes shape.
This amount, encompassing contributions from Biden’s campaign, the Democratic National Committee, and associated joint fundraising committees, added to the $155 million in reserves that Biden’s effort held by the end of February.
This financial position marks the highest cash reserve any Democratic presidential candidate has ever had at this juncture in the election cycle. It furnishes Biden with a considerable advantage over Trump, whose fundraising has consistently trailed behind the Democrats’ throughout the campaign season.
Despite facing challenges such as low approval ratings and polling data indicating a tight race with Trump in crucial battleground states, fundraising remains a bright spot for Biden’s reelection campaign.
With a robust financial reserve, Biden’s team is expanding its presence in battleground states throughout this month. This expansion includes the opening of 100 offices and the hiring of 350 staff members.
In addition to bolstering on-the-ground operations, the president has been actively traveling to electoral battlegrounds as the general election campaign ramps up. This week, he has scheduled more visits to Nevada and Arizona. Notably, the campaign is responsible for reimbursing the government for the expenses associated with flying Air Force One for political travel, as well as covering other travel-related costs.
Furthermore, the campaign has made substantial investments in television advertising, particularly in battleground states. Following Biden’s State of the Union address earlier this month, the campaign initiated a $30 million advertising campaign in these key states. It’s worth noting that the State of the Union address itself spurred significant donations, totaling $10 million, a figure not reflected in the fundraising numbers for February.
During February, Biden’s fundraising initiatives encompassed various events and strategies that proved fruitful. A three-day tour in California, anticipated to yield up to $10 million, was among the highlights. Additionally, the Republican primary in South Carolina contributed $1.6 million to Biden’s coffers. An email sent by first lady Jill Biden following the release of special counsel Robert Hur’s report resulted in an impressive $853,000 in donations.
Another significant fundraising opportunity arose from a contest offering supporters a chance to win tickets to an upcoming event featuring Biden alongside former Presidents Barack Obama and Bill Clinton. This initiative alone brought in $4 million in February.
Overall, the Biden campaign reports receiving contributions from 1.3 million donors since the inception of the campaign last year, with 97% of donations falling below the $200 threshold. February marked the strongest month for grassroots fundraising to date, according to the campaign’s assessment.
“It gives you a barometer of the grassroots enthusiasm, particularly at this stage of the race. It’s going to hockey stick. And your goal at this stage of the race is to get the baseline from which you hockey stick to be as high as possible. And that happens because you’ve got really enthusiastic supporters,” remarked Rob Flaherty, Biden’s deputy campaign manager, in an interview.
In 2020, Biden garnered financial support from over 6 million individuals, indicating potential for an increase in the number of donors later in the year.
Biden campaign officials anticipate that as more Americans come to terms with the reality of the Biden-Trump rematch and the potential for Trump’s return to the White House, more contributions will be unlocked.
Indeed, this shift has already begun to manifest. In February, a series of email appeals focused on Trump as the likely GOP nominee and served as reminders of the former president’s record, resulting in a surge in grassroots donations to Biden. Overall, the Biden team observed a 40% increase in fundraising from emails compared to the previous month.