President Biden’s re-election operation massively outgunned Republican presidential nominee Donald Trump in campaign spending last month, but the incumbent’s polling position only worsened — and he bowed out of the race completely Sunday.
Biden’s campaign shelled out $59.4 million during the month of June, compared to the Trump campaign’s $9.9 million expenditures that same month, according to recent filings with the Federal Election Commission.
During that same stretch of time, Trump began June with a 2.2-point lead and ended it with an expanded 3.2-point advantage, according to the RealClearPolitics aggregate of a five-way national race.
A similar trend took place that same month in several battleground states, per the RCP aggregates.
Biden’s team raked in $63.8 million in June, outpacing the Trump team’s $21.5 million
But it ended June with just under $96 million cash on hand, compared to the Trump campaign’s $128 million.
The 81-year-old president’s political operation long held a cash advantage over Trump. But Trump’s May conviction in his hush money case turbocharged his fundraising operation and wiped out much of that edge.
Both campaigns joined forces with their national party apparatuses.
Trump’s fundraising operation, combined with the Republican National Committee (RNC) ended June with about $281 million cash on hand by the end of June, while Biden and the Democratic National Committee (DNC) rang in at $237 million, per FEC filings.
Additionally, the DNC shelled out about $26 million in June, compared to the RNC’s 19.4 million.
Now, the RNC enjoys a larger war chest than the DNC for the first time this general election season, with $101.6 million cash on hand, compared to the DNC’s $78.3 million cash on hand.
Several months ago, the RNC’s financial apparatus was sputtering and near a multi-decade low when factoring in inflation.
Trump pushed for new leadership, which ultimately took over in March.
There were indications that some Biden donors were wary about opening up their coffers to the Biden-Harris campaign over uncertainty about whether Biden would remain at the top of the ticket.
Now what happens could be anybody’s guess.
Campaign finance laws pose serious complications for Biden to transfer his war chest to another standard bearer if he so wishes.
Republicans would almost certainly mount a legal challenge against him if he attempted it, which has seemingly given some donors pause.
Vice President Kamala Harris held a snap call with about 300 donors Friday during those elevated concerns and tried to reassure them Democrats will win.
“I will start by sharing something with all of you. Something I believe in my heart of hearts. It is something I feel strongly you should all hear and should take with you when you leave. And tell your friends too. We are going to win this election,” Harris declared.
“We are going to win.”
