Via Reuters: Biden campaign, Democrats rake in $42 million in January fundraising.
U.S. President Joe Biden’s re-election campaign and his Democratic Party allies raised more than $42 million in January and have $130 million cash-on-hand as they prepare for a likely general election contest against Republican Donald Trump.
The fundraising figures, released by Biden’s campaign, were propelled by small-dollar donors giving money online, officials said.
“January’s fundraising haul – driven by a powerhouse grassroots fundraising program that continues to grow month by month – is an indisputable show of strength to start the election year,” Biden’s campaign manager Julie Chavez Rodriguez said in a statement.
Given a lot of the hand-wringing I have been reading as it pertains to Democratic enthusiasm for the Biden campaign, this is one data point that suggests perhaps things are going well. Not only is having a large amount of money on hand a positive, but raising it in small-dollar donations is a sign of significant support.
For comparative purposes, also via Reuters: Trump’s re-election campaign spent more money than it raised in January.
Donald Trump’s election campaign spent more money on ads and other expenses in January than it took in from donors, according to a disclosure submitted on Tuesday to the Federal Election Commission.
Trump’s cash holdings fell to just over $30 million at the close of last month as he waged successful campaigns for primary contests in Iowa and New Hampshire, down from around $33 million a month earlier, the disclosure showed.
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Trump’s campaign said it raised $8.8 million in January and spent more than $11 million, with outlays including more than $5 million on ads and mailings as he easily won his party’s first presidential nomination contests.
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Separately, the biggest super PAC supporting Trump, known as MAGA Inc, reported raising $7 million last month, barely enough to offset the $5 million refund it issued to a separate Trump political action committee (PAC) that is paying the candidate’s legal expenses as he battles dozens of criminal charges.
The Trump group that received the money, Save America, reported spending close to $3 million on legal expenses during the month, adding to the more than $47 million it spent last year on legal expenses.
Most of MAGA Inc’s fundraising in January came from a $5 million contribution from Timothy Mellon, heir to the Mellon banking fortune, who is also funding a super PAC backing independent presidential candidate Robert F. Kennedy Jr.
