Joe Biden campaign reports $42M raised in January

Joe Biden. Image via AP.

President Joe Biden’s re-election campaign raised more than $42 million in January and closed the month with $130 million cash.

That’s the highest amount any Democratic campaign ever reported at this point in an election cycle, the campaign said.

“January’s fundraising haul — driven by a powerhouse grassroots fundraising program that continues to grow month by month — is an indisputable show of strength to start the election year,” said Julie Chávez Rodriguez, the Campaign Manager for the Biden-Kamala Harris ticket.

“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. Either way, judging from their weak fundraising, they’re already paying the political price. In an election that will determine the fate of our democracy and our freedoms, President Biden’s campaign is using its resources to build a winning operation that will meet voters where they are about the stakes of this election.”

As of the end of 2023, Federal Election Commission reports showed Biden had raised about $89.8 million, compared to Trump’s $79.6 million. At that point, Republicans remained in a multicandidate Primary, with Gov. Ron DeSantis also raising about $38.4 million, entrepreneur Vivek Ramaswamy raising almost $37.1 million and former South Carolina Gov Nikki Haley reporting $22.1 million.

At that point, Biden boasted it had more cash on hand than the entire Republican field while he faces little competition in the Democratic Primaries. Now, DeSantis and Ramaswamy have suspended their campaigns and endorsed Trump. Still engaged in a Primary battle with Haley, along with a number of legal issues, Trump hasn’t announced January fundraising totals.

Biden campaign officials said they were in strong financial shape heading into the re-election effort.

“We are particularly proud that January shattered our grassroots fundraising record for a third straight month,” said Senior Communications Advisor T.J. Ducklo. “This haul will go directly to reaching the voters who will decide this election. That’s reason number 355 million that we are confident President Biden and Vice President Harris will win this November.”