Biden campaign outraises, outspends Trump campaign in June

President Joe Biden’s election campaign managed to outraise and outspend his challenger, Donald Trump, during the month of June. Despite a disastrous debate performance, Biden’s campaign coffers saw a significant increase.

According to disclosures published on Saturday, Biden’s main campaign account received a staggering $64 million in June, while spending $59 million.

The majority of the expenses were allocated towards campaign ads. As a result, Biden ended the month with a healthy balance of $95 million in the bank, as reported to the Federal Election Commission.

In contrast, Trump’s main account reported raising $21 million in June and spending approximately $10 million. However, the former president had a substantial $128 million in cash at the end of the month.

Interestingly, Biden’s fundraising received a boost of over $5 million in the three days following the debate on June 27. Despite his lackluster performance, his supporters rallied behind him. However, this month has presented new challenges for Biden, as he has faced calls from Democratic lawmakers to withdraw from the race. Consequently, his fundraising has reportedly seen a decline.

Biden and Trump are currently engaged in a tight race in national polls, with Trump leading in several battleground states that could determine the outcome of the upcoming presidential election on November 5.

The pressure on Biden to step aside has intensified, with 35 congressional Democrats publicly urging him to end his re-election bid. Concerns over his advanced age and performance on the debate stage have been cited as reasons for this call. Furthermore, several Biden fundraising events have been put on hold, as influential donors have encouraged him to bow out.

If Biden were to exit the race, control of his campaign’s funds could potentially be transferred to his running mate, Vice President Kamala Harris. Alternatively, he could choose to transfer his war chest to the Democratic Party, which is already a major fundraiser for his re-election campaign. The party reported raising $39 million through its main fundraising group in June.

On the other side, the main fundraising account for the Republican Party, supporting Trump, raised an impressive $67 million during the month.

It is worth noting that Trump had actually outraised Biden in May, as his supporters significantly increased their donations leading up to his May 30 conviction on business fraud charges. Trump has vehemently claimed, without evidence, that the case was politically motivated.

In terms of super PAC donations, MAGA Inc, the largest super PAC supporting Trump, reported raising over $22 million in June. This included substantial contributions of $5 million each from hotelier Robert Bigelow and Linda McMahon, a former professional wrestling entrepreneur.

On Biden’s side, LinkedIn co-founder Reid Hoffman contributed $3 million to FF Pac, a super PAC supporting the president’s re-election effort, as disclosed in a separate filing with the Federal Election Commission.