Biden’s election war chest is smaller than Trump’s, documents show

By Jason Lange

WASHINGTON (Reuters) – President Joe Biden’s re-election campaign ended last month with about $20 million in the bank, second only to the $22 million brought in by leading Republican candidate Donald Trump, according to released financial information. SATURDAY.

Disclosures filed with the Federal Election Commission point to a competitive money race ahead of the November 2024 presidential election.

Biden has amassed a small war chest for former presidents at this point in recent re-election campaigns. Democrat Barack Obama had $37 million at this point in 2011, while Trump had over $56 million in June 2019.

The funds detailed in the disclosures represent a significant portion of campaign finance, but do not include money raised by allied super PACs, which typically collect massive sums from the wealthiest donors and must disclose details about their finances. later in July.

Biden’s campaign announced Friday that his re-election effort, including Democratic Party accounts, has $77 million in the bank.

The president is unlikely to face a serious challenge in the race for the Democratic nomination. One challenger, anti-vaccine activist Robert F. Kennedy Jr., said he had raised just $6 million through June, while another, self-help guru Marianne Williamson, raised less. of a million dollars.

Trump’s campaign, which launched in November, reported spending about $9 million in the three months to June, more than any other campaign, according to disclosures made to election regulators. The expenses included more than $2 million donated to Campaign Inbox LLC, a digital fundraising company.

Florida Governor Ron DeSantis, who ranks second to Trump in most opinion polls for the Republican nomination race, had about $12 million in his campaign account, considerably less than the $21 million dollars available to fellow Republican Tim Scott, U.S. senator from South Carolina. DeSantis and Scott launched their campaigns in May.

Longtime Republican candidates Doug Burgum and Vivek Ramaswamy have revealed they have poured millions of their own money into their campaigns. Burgum, the governor of North Dakota, loaned his campaign about $10 million and Ramaswamy, a former biotech executive, loaned him about $15 million.

(Reporting by Jason Lange; Editing by Michael Perry)

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