March is sure to rank as Joe Biden’s best month for fundraising so far, as the Democratic presidential front-runner already announced that he raised $33 million in March’s first half, after raking in just $9 million in January and $18 million in February.
But analysts are set to focus on how much money came in during the month’s second half, as social-distancing measures took hold nationwide and spurred a shift to fundraising online and by phone, rather than through in-person events. Asking for money during the coronavirus crisis also has been hampered by the fact that donors to Democratic and Republican campaigns have suffered financial hits due to layoffs and the stock market’s SPX, -1.60% DJIA, -1.84% plunge. In addition, many potential donors are increasingly focused on giving to coronavirus-related causes rather than politicians.
Related: 6 ways to help others during the coronavirus outbreak
In a fundraising email to supporters on Monday that referred to the coronavirus crisis, Biden’s campaign said its “first big test in this new phase is coming up” as it prepares to “close the books” on its March fundraising. “We need to show that our campaign has the strength and resilience to adapt to our new reality while still building a broad coalition to defeat Trump,” the email said, while asking for contributions of $5 or more.
With March ending on Tuesday, presidential campaigns soon could start revealing their fundraising totals for the month, ahead of an April 20 deadline by which figures must be disclosed to the Federal Election Commission. Since it’s an election year, monthly hauls must be reported to the FEC by White House campaigns, rather than just quarterly figures.
Sen. Bernie Sanders, the only other Democratic contender still in the party’s nominating contest, was quick to disclose his impressive February fundraising total of $46.5 million, releasing it on March 1. In February, Sanders won the New Hampshire primary and performed well in Iowa’s mismanaged caucuses, before he then went on to lose to Biden in South Carolina on Feb. 29 and in the Super Tuesday primaries on March 4.
Sanders for months has led the Democratic field in getting the most money from supporters. As of Feb. 29, the Sanders campaign had raised $169 million, well ahead of Biden’s total of $88 million. But the Vermont senator now faces pressure to drop out as he also fights over provisions in Washington’s response to the crisis.
Biden, for his part, could get big financial help from billionaire Mike Bloomberg and reportedly has two super PACs that support him pledging to raise $175 million. The former vice president has been in work-from-home mode, campaigning through webcasts from a rec room that has been converted into a TV studio. That approach has come as a donor asked him at a fundraising event if supporters could “get more” of him and less Trump “on our airwaves.”
Trump has seen his approval ratings rise amid the spread of the coronavirus causing the disease COVID-19. As of Feb. 29, the Republican president’s principal campaign committee had reported $232 million in total receipts.
div > iframe { width: 100% !important; min-width: 300px; max-width: 800px; } ]]>
Add Comment