The fundraising competition between Republican candidate Donald Trump and President Joe Biden has intensified as the November election draws closer. Trump outraised Biden for the second consecutive month in May by an $81 million lead in donations.
Trump received a $50 million donation from Timothy Mellon, while Biden got $20 million from Michael Bloomberg. Despite not disclosing full details of his cash on hand, partial calculations reveal that Trump has managed a fund of $170 million, which is $50 million more than Biden’s. Just two months ago, Trump was $100 million behind Biden, but he has since cut that deficit in half. For the first time, Trump’s main campaign committee has more cash than Biden’s.
Trump’s improved fundraising can be attributed to his online donations surging after his criminal conviction in New York. His campaign believes that the combination of online donations and mega-donations has boosted his fundraising efforts significantly.
While money is crucial in important races like the presidential election, it is not always decisive. Trump’s allies believe that Biden’s spending on ineffective television advertising has not significantly impacted the race. Both campaigns are working to replenish their coffers and build a strong political infrastructure in battleground states.
Biden’s early financial lead has allowed him to build a robust campaign apparatus that his campaign believes will benefit him in the long run. Despite this, both candidates are focusing on reaching undecided voters and maintaining a strong presence in key states. The full accounting of both campaigns’ finances will be made public in federal filings next month.
In conclusion, while Trump’s improved fundraising efforts have narrowed the gap between him and Biden, there is no guarantee that it will be enough to sway voters towards him come November 3rd. Both candidates continue to focus on winning over undecided voters and building a strong political infrastructure in key states as they prepare for what could be one of the most contentious elections in American history.
