Biden’s reelection campaign faces challenges in attracting small donors, unlike previous presidents.
President Biden’s Fundraising Efforts Show a Shift in Donor Base
President Joe Biden’s campaign is celebrating impressive fundraising totals, but there’s an interesting twist. While the numbers are high, the majority of donations are coming from wealthy donors rather than small contributors. This suggests that Biden may be facing challenges in appealing to individual donors, a group that played a crucial role in his 2020 victory.
Biden and Vice President Kamala Harris, along with the broader Democratic Party, have managed to raise over $72 million since the president announced his reelection campaign in April. However, it’s worth noting that most of these donations are coming from affluent individuals. Additionally, nearly a third of the total 394,000 donors did not contribute to Biden during the 2020 election.
The Importance of Small Donors
The small-donor base that played a significant role in Biden’s victory over former President Donald Trump in 2020 and helped Democrats maintain a Senate majority during the 2022 midterm elections has not yet shown the same level of financial support for the 2024 election.
According to the Federal Election Commission, the Biden campaign and the Biden Victory Fund raised $10.2 million from small donors (those who gave $200 or less) during the three-month fundraising period that ended on June 30.
However, it’s important to consider the context of the previous elections. The 2020 and 2022 elections were driven by social and cultural issues, such as the desire to remove Trump from office, concerns about election fraud, the potential overturning of Roe v. Wade, and the January 6, 2021 riot at the Capitol.
Furthermore, Biden’s reelection campaign has maintained a relatively low-profile compared to previous Democratic candidates like Sen. Bernie Sanders (I-VT) and former President Barack Obama. During the same three-month quarter, Obama raised $21 million for his 2012 reelection campaign.
Comparatively, Biden’s small-donor support falls behind Trump’s 2020 reelection campaign. While 21% of Biden’s funds came from small donors, Trump received 35% of his funds from this group.
Despite the lower number of small donors, Biden is still surpassing the small donor totals of Republican candidates. Combined, GOP candidates have raised $7.5 million from small donors, while Biden has raised $10.2 million.
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“Once Democratic donors become focused on the Republican primary and what’s at stake in the 2024 election, the Biden campaign will have no problem raising record amounts of money online,” said Lauren Miller, who served as digital director to Elizabeth Warren’s Senate campaigns, in an interview with The New York Times.
The Washington Examiner reached out to Biden’s campaign for comment.
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