Biden Campaign Raises $42M in January, $130M Cash on Hand

The Biden campaign raised $42 million in January and began February with $130 million in cash on hand, the campaign announced Tuesday.

The $130 million in cash on hand reportedly represents a “record-setting total” for a Democrat presidential candidate at this time during an election cycle.

• January was the best grassroots fundraising since April, as 97 percent of donations were under $200, the campaign said.
• The campaign received contributions from 1.1 million donors in total.

Meanwhile, the Trump campaign has not released its January fundraising totals. In January, it had $33 million cash on hand.

“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,” Biden’s campaign manager Julie Chavez Rodriguez said.

It appears the Biden campaign, despite its sluggish start, has far more resources than the Trump campaign, which is under a great financial burden due to legal cases brought against the former president.

On Friday, New York Judge Arthur Engoron ruled Trump must pay nearly half a billion dollars in a civil case. He must pay the money as a bond before he can appeal the ruling.

Insane! https://t.co/Jpvc4eUI2I

— Breitbart News (@BreitbartNews) February 20, 2024

Democrats seek to essentially bankrupt Trump as he campaigns to oust President Joe Biden, who claims he is not behind the lawsuits or indictments against Trump — although several prosecutors reportedly met with Biden administration officials before three of the indictments.

Even if the cases are reversed on appeal, legal cases impact Trump’s 2024 candidacy, ABC News reported:

While Trump’s donors have largely footed the bill for his campaign expenses — with Trump’s political committee spending more than $50 million on his campaign in 2023 — the legal cases present a stickier challenge for Trump, who has built a reputation around his wealth. Courts allow defendants multiple mechanisms to collect damages, including liens and wage garnishments, and the fines are not dischargeable through traditional protections like bankruptcy.

Multiple legal experts who ABC News spoke with suggested that Trump is unlikely to front the fines immediately, and will instead opt to delay any payment using a bond secured by his assets until after he exhausts his appeal options.

Trump said his company had more than $400 million in cash last year when Trump was deposed in the New York civil fraud case.

Trump’s real estate company is a widely successful origination that maintains many sizable assets.

Wendell Husebo is a political reporter with Breitbart News and a former GOP War Room Analyst. He is the author of Politics of Slave Morality. Follow Wendell on “X” @WendellHusebø or on Truth Social @WendellHusebo.