Joe Biden’s (D) campaign is expected to report a record-breaking month in terms of fundraising, the New York Times reported on Tuesday.
Biden’s campaign, along with joint-fundraising committees with the Democratic National Committee (DNC), is expected to report over $300 million in donations for the month of August — over double the $140 million Biden and the Democrats reported in July.
Biden formally announced Sen. Kamala Harris (D-CA) as his running mate in August, someone who previously demonstrated her ability to bring in the big bucks, raising over $5 million for the presidential hopeful via online fundraisers prior to the formal announcement. Biden’s campaign experienced a surge of cash in the 48 hours following his announcement of the Biden-Harris ticket, raking in $48 million.
Per the Times:
The sum would shatter past monthly records as small donors have poured money into Mr. Biden’s coffers, especially since the selection of Senator Kamala Harris as his running mate, and big contributors, from Silicon Valley to Wall Street, have given checks that can be as large as $721,300.
The people familiar with Mr. Biden’s fund-raising did not know the exact final figure for the month of August, or how much higher than $300 million it would be.
The Times added that the amount would top the amount both Trump and former Democrat challenger Hillary Clinton raised in August 2016 combined.
“Mr. Biden’s sum laps what is believed to be the previous monthly record of $193 million, set by Barack Obama in September 2008, though there is no formal record-keeping,” the paper added.
While official August numbers remain forthcoming, Trump’s campaign and the Republican National Committee (RNC) outraised Biden and the Democrats in July by $25 million — $165 million to $140 million. Trump and Republicans raised $76 million during last week’s four-day convention alone, a senior Trump campaign official told Fox News. Biden and Democrats raised $70 million during their convention the week prior.