Joe Biden's presidential campaign raised more than $42 million in the month of January. With this funding, the Democrat's team now has $130 million in cash for use in the campaign during the next nine months remaining before the election. In total, since April 2023, the campaign has raised $278 million.
The sum is considerable taking into account that before January, the campaign had raised just over $90 million throughout 2023, through December. According to Fox News, this is the largest amount ever raised in a Democratic campaign.
The current president's campaign team seemed satisfied and has marketed this fundraising as an indication of the president's popularity, despite his approval rating falling for months. "While Team Biden-Harris continues to build on its fundraising machine, Republicans are divided – either spending money fighting Donald Trump, or spending money in support of Donald Trump’s extreme and losing agenda," Biden’s campaign manager, Julie Chavez Rodriguez, said in a statement.
Compared to the Democratic campaign, former President Trump's team has just over $33 million in cash, according to data from the end of 2023. The open cases that Donald Trump is facing represent an unprecedentedly strong economic burden.
In addition to this, Donald Trump also needs to expend more resources during the primaries to confront Nikki Haley. The moderate Republican, although well behind Trump in polls and primary results, has ended up positioning herself as the former president's only serious rival in the race to be the Republican candidate.
