Biden’s Campaign Raised More Funds than Trump in March

Democratic Party presidential candidate, Joe Biden has able to raise more than three times as much money for his campaign than the Republican nominee, US President Donald Trump had managed in March. Earlier this month, Biden became the Democrat’s de facto nominee, who is going to fight the 2020 US presidential election against Trump in November since a rival Democratic competitor, Bernie Sanders withdrew from the nomination contest.

A Good Sign for Biden

Citing as a potential sign of voter enthusiasm for the Democratic challenger, Biden’s campaign said on Monday, April 20, 2020, that it bagged in $46.7 million in the last month despite the coronavirus outbreak had disrupted fundraising for US politicians and hammered funds from donors. Whereas, the Trump campaign for the month of March was declined considerably than former vice president’s fundraising since he could raise only above the $13.6 million, which showed a sharp decline from the prior month.

According to disclosures filed by the two campaigns to the Federal Election Commission, Biden entered the general election contest with a smaller war chest than what Trump, a Republican, who has been preparing for the election since 2017. However, Trump had raised $98.5 million in February, which was far too much as compared to Biden’s fundraising.

Biden’s fundraising in March witnessed the rise of both small and large donors, in which about 40% of the cash raised during the month were coming from people who had given less than $200 during the current election cycle, a similar share as in February.

Although Biden’s campaign had struggled with fundraising early in his candidacy, he now hopes a unified front from his party and several other candidates who dropped from the nomination race to help him fundraising in the coming days. Sanders and other former rivals have already declared to endorse former vice president and would extend their bits of help in raising funds.

Main Contributors of Biden’s Funds

Amid the widespread threat of the virus pandemic, Biden’s in-person election campaign was canceled and had organized several online fundraising conferences this month, with setting individuals’ contributions up to $5,600. Biden said in an email referring to the pandemic threat for his campaign, “We haven’t been able to travel, go door-to-door, or hold public events.”

Last week, Biden told that his ex-competitors and former President Barack Obama helped with bringing in $5.25 million over two days that week, which was a major contribution among his donors. The Biden campaign is also currently pursuing a deal with the Democratic National Committee, or DNC that would allow it to rake in much larger donations.

The DNC stated in a public disclosure on Monday that it had accumulated fundraising of $32.7 million in March while Republican National Committee said it raised $24 million for the month. For Biden’s contribution, about $18 million alone was transferred from the campaign of former Democratic presidential candidate Michael Bloomberg, a billionaire who endorsed Biden after he withdrew from the race in March.

I’m Roshan, a journalist, blogger and music lover. I like covering global news related to finance, business, and technology. Focusing on the collection of true and reliable information, I rely on working by conducting interviews with business leaders and talking to the inside sources of companies.

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