The Republican National Committee also reported having $102 million in funds as of the end of June, nearly double the cash it reported having on hand at the end of May. The Democratic National Committee reported late Saturday that it had raised $39 million and reported $78 million in cash as of the end of June.
The Republican fundraising surge is an ominous sign for Democrats: The June report only recorded Biden’s fundraising in the days after his struggles in the June 27 debate with Trump. That raised doubts among many Democrats about Biden’s ability to operate effectively and defeat the former president if he remained in the top spot.
The Biden campaign claimed to have raised $38 million over the four days leading up to the debate in Atlanta, but Biden’s lackluster performance sent ripples of panic through the Democratic Party, with some big donors vowing to pause contributions to the outside groups that are funding many of the ads backing Biden’s candidacy and attacking Trump. The Biden campaign and its allies won’t appear in the FEC filings until August.
The Biden campaign said it had raised $127 million in June, while the Trump campaign said it had raised $111.8 million in the same period. The Biden campaign has about $240 million in cash on hand, compared to about $285 million in the bank, according to a report filed by the Trump campaign Saturday night. Across relevant committees, including the Democratic National Committee.
Many Democrats are concerned by a sudden drop in large donations to Biden’s campaign as they consider calls for him to forgo reelection.
Twelve Democrats, including two senators, called on Biden on Friday to drop out of the presidential race — the largest single-day such call since the debates. Thirty-seven House Democrats have said Biden should step aside.
As a growing number of lawmakers call for Biden to back down, the president is also hearing directly from allies such as House Minority Leader Hakeem Jeffries (D-N.Y.), who warned that Biden’s candidacy could jeopardize Democratic hopes of taking back the House, and former House Speaker Nancy Pelosi (D-Calif.), who urged a more cautious view of his declining support in polls in key battleground states.
Major Democratic donors see their chances of beating President Trump fading and are rushing to develop alternative scenarios, including trying to launch a vetting process for a running mate to rival Harris if she replaces Biden as the party’s nominee.
In June, FF PAC, the main super PAC aligned with Biden and set to spend heavily on advertising, raised $33 million, led by a $15 million infusion from another nonprofit, Future Forward, that topped the $23.5 million raised by MAGA Inc., the main super PAC aligned with Trump.
Major donors to FF PAC in June also included George Soros’ Democracy PAC, which gave $5 million, Silicon Valley entrepreneur Reid Hoffman, who gave $3 million, and James and Katherine Murdoch, who gave a combined $1 million.
MAGA Inc’s fundraising was driven by $5 million each from businessman Robert Bigelow, WWE co-founder Linda McMahon and tobacco company RAI Services.
