Joe Biden’s fundraising race against President Trump is on.
The presumptive 2020 Democratic presidential nominee raised $46.7 million last month ahead of November’s general election, according to his campaign. Financial disclosure filings due Monday also showed Biden’s campaign had $26.4 million in cash-on-hand.
In February, Biden raised roughly $18 million, starting March with $12 million in his account. While this month’s figures are stronger, they still pale in comparison to the man he’s seeking to replace in the White House and the Republican National Committee more generally.
Without the distraction of a primary, one benefit of incumbency, Trump, the RNC, and their fundraising committees brought in $212 million during the first quarter of 2020, ending the period with $240 million in the bank. In comparison, former President Barack Obama, the Democratic National Committee, and their fundraising operation’s haul equaled $127 million during the first three months of 2012.
Biden’s been hamstrung by a cash disadvantage his entire campaign since launching his bid in April 2019, overshadowed by ex-Democratic rival and fundraising powerhouse Bernie Sanders.
The Vermont senator, who dropped out of White House contention this month, raised $47 million in February, starting March with $18 million in his coffers. He earned $33 million last month. While spending $35 million, he still ended the period with $16 million in his account.
Although Democratic donors and bundlers are likely to consolidate behind the party’s next standard-bearer, fundraising efforts will be hindered by the economic fallout of the novel coronavirus pandemic.
With millions of people receiving unemployment benefits as almost all of the country has been ordered to stay at home to prevent the spread of COVID-19, the Biden campaign is offering to stop sending supporters notes asking for financial assistance for two weeks.
