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HomeUSPresident Joe Biden’s campaign raises $71.3 million, outpaces Trump and other Republicans

President Joe Biden’s campaign raises $71.3 million, outpaces Trump and other Republicans

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President Joe Biden delivers remarks announcing seven regional clean hydrogen hubs selected to receive funding from the Bipartisan Infrastructure Law to accelerate a clean energy economy and new jobs, Friday, October 13, 2023, at Tioga Marine Terminal in Philadelphia. (Official White House Photo by Cameron Smith)

President Joe Biden has seen a fruitful third quarter as his campaign has raised $71.3 million. The funds include those from his re-election campaign together with the Democratic National Committee and a joint fund-raising committee. The funds that have been raised are much more than the amount raised by Donald Trump and other Republicans.

Celebrity Jeffrey Katzenberg, who is the co-chairman of Biden’s campaign described the quarter that ended in September as “spectacular.” The Hollywood mogul also said that their expectations had been exceeded and that they had an “extraordinary advantage” as they had “$91 million in the bank today.”

President Biden’s campaign has raised much more than his closest rivals in the Republican party. Joe Biden is expected to run unopposed in his party while the GOP already has a few candidates who have officially declared their run and have started collecting funds for their presidential campaigns, while other Republicans might add their names to an already crowded primary.

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Leading Republicans have reported the following amounts:
Former president Donald Trump’s campaign reported that it has raised $45.5 million. It also said that it had $37.5 million in cash on hand.
Florida Governor Ron DeSantis raised $15 million.
Former South Carolina Governor Nikki Haley raised $11 million.
Aides to Senator Tim Scott said that his campaign started in October. It has $11.6 million in cash on hand.

President Biden’s campaign has disclosed the amounts it has raised from small time donors. It said that there were 240,000 new donors in the quarter who had not donated to the campaign in 2020. The Biden effort also said that more than 112,000 people has signed up to donate every month, which is close to double the earlier numbers. Small time donors’ contributions generally indicate support for a candidate at grass root levels.

Biden aides are confident about their future fundraising capabilities as well as their army of small donors. They said that the Biden campaign’s new donors have increased by 34 percent since Joe Biden’s 2020 presidential bid. They also said that 97 percent of the donations they received in July, August and September were less than $200.

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