Cash Dash: Trump tops Biden in fundraising battle the past three months

Former President Trump's campaign says it has out raised President Biden over the past three months and showcases that it has more cash-on-hand.

Trump's campaign announced on Tuesday that it and the Republican National Committee hauled in a staggering $331 million during the April through June second quarter of 2024 fundraising, topping the massive $264 million raked in by the Biden campaign and the Democratic National Committee the past three months.

And the former president's campaign spotlighted that it had $284.9 million in its coffers as of the end of June, compared to $240 million for Biden.

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Former US President Donald Trump speaks during a campaign event at Historic Greenbrier Farms in Chesapeake, Virginia, US, on Friday, June 28, 2024. (Parker Michels-Boyce/Bloomberg via Getty Images)

But Biden hauled in $127 million in June fundraising, topping the $111.8 million Trump raised last month.

"President Trump’s campaign fundraising operation is thriving day after day and month after month. Winning this quarter brought us a cash on hand advantage, which is punctuated by a Biden burn rate that grows while yielding no tangible results for them," Trump co-campaign managers Chris LaCivita and Susie Wiles emphasized in a statement.

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The Trump and Biden campaign cash reports were released as the president's campaign tries to flip the script on the brutal narrative coming out of last week's first debate.

Biden, who at age 81 is the oldest president in the nation's history, is facing the roughest stretch of his bid for a second term in the White House. This, after his halting delivery and stumbling answers at the debate, sparked widespread panic in the Democratic Party and spurred calls from political pundits, editorial writers and some party elected officials and donors for Biden to step aside as the party's 2024 standard-bearer.

President Biden and former President Trump debated on Thursday night.  (Getty Images)

A sizable chunk of Biden's June's haul was raked in at a star-studded fundraiser in Los Angeles with former President Obama, Hollywood heavyweights George Clooney and Julia Roberts, and late night TV talk show host Jimmy Kimmel. The campaign said after the event that it set a new Democratic Party fundraising record with a $30 million haul. 

The president also brought in over $8 million a few days later at a fundraiser at the Northern Virginia home of former Gov. Terry McAuliffe, where Biden was also joined by former President Bill Clinton and former Secretary of State and former Sen. Hillary Clinton, who was the Democrats' 2016 standard-bearer.

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But boosting the June fundraising to higher heights was the $33 million the campaign says was raised last Thursday through Saturday, the day of the first presidential debate and the following two days. And the Biden campaign showcased that their single best hour of fundraising this cycle came during the 11pm to midnight eastern hour on Thursday, immediately after the end of the debate with Trump in Atlanta, Georgia.

But boosting the June fundraising to higher heights was the $33 million the campaign says was raised last Thursday through Saturday, the day of the first presidential debate and the following two days. And the Biden campaign showcased that their single best hour of fundraising this cycle came during the 11pm to midnight eastern hour on Thursday, immediately after the end of the debate with Trump in Atlanta, Georgia.

President Joe Biden reacts after speaking at a campaign rally in Raleigh, N.C., Friday, June 28, 2024.  (AP Photo/Matt Kelley)

Biden and the DNC enjoyed a large fundraising lead over Trump and the Republican National Committee earlier this year. But Trump and the RNC topped Biden and the DNC in fundraising for the first time in April.

And in May, the Trump campaign and the RNC, fueled in part by a fundraising surge following the former president's history-making guilty verdicts in his criminal trial, combined hauled in a stunning $141 million, easily besting Biden and the DNC.

Fundraising, along with public opinion polling, is a key metric used to measure the strength of a candidate and their campaign. Money raised can be used to build up grassroots outreach and get-out-the-vote operations, staffing, travel and ads, among other things.

The Biden campaign has been using its funds to build up what appears to be a very formidable ground operation in the key battleground states and announced two weeks ago that they had hired their 1,000th staffer and had opened over 200 coordinated offices in the swing states. The Biden campaign enjoys a large organizational advantage over the Trump campaign when it comes to grassroots outreach and get-out-the-vote ground game efforts in the states that will likely decide the outcome of the election rematch.

"Team Biden-Harris grew its historic war chest while also significantly expanding its footprint and operations both in HQ and across the key states – the resources needed to win a close election," the campaign highlighted in a release.

CHESAPEAKE, VIRGINIA - JUNE 28: Republican presidential candidate, former U.S. President Donald Trump walks offstafe after giving remarks at a rally at Greenbrier Farms on June 28, 2024, in Chesapeake, Virginia.  (Anna Moneymaker/Getty Images)

But the Trump campaign argues that Biden's team has been wasting their money.

"Despite Biden spending nearly $120 million on tv, cable and radio alone, polling and voter enthusiasm continue to grow for President Trump. This fundraising momentum is likely to grow even more as we head into a world-class convention and see the Democrats continue their circular firing squad in the aftermath of Biden’s debate collapse," LaCivita and Wiles argued in their statement.

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