Biden Campaign Discouraged by Trump’s Fundraising Success

President Biden’s campaign has been surprised by Donald Trump’s recent fundraising success, as they had anticipated a significant financial advantage following Trump’s conviction on 34 felony charges.

The Biden team had planned to outspend Trump in the final months of the 2024 election, aiming to overwhelm him with a “financial avalanche.” However, Trump has now outpaced Biden in fundraising for two consecutive months, erasing the incumbent’s financial edge despite his conviction in late May. This has reportedly caused a sense of “depression” among Biden supporters.

“There was the strategy of raising all this money on the front end so we could have this huge edge,” a Democrat fundraiser told Politico. “The whole point of it was to come out with a sizable cash advantage and, you know, we’re now even, and it’s June . . . . I have no other word for it other than ‘depression’ among Biden supporters.”

The Trump campaign reportedly raised nearly $53 million in the first 24 hours after his guilty verdict, surpassing his previous single-day record. In the weeks since, Trump and his supporting political action committees have continued to attract large donations, including a $50 million contribution from megadonor Timothy Melon. Republicans raised over $141 million in May, exceeding the $85 million raised by Democrats.

Trump has framed the New York criminal case and other indictments against him as attempts by Biden-aligned prosecutors to interfere with the 2024 election. Following his conviction, his campaign leveraged this narrative in fundraising emails and advertisements.

Venture capitalist was among those who reacted to the New York trial, calling it a “sham.” He added, “There is now only one issue in this election: whether the American people will stand for the USA becoming a Banana Republic.”

Biden donors told Politico they had anticipated Trump’s campaign catching up financially later in the year, after next month’s Republican nominating convention. Following Trump’s fundraising surge, Biden’s allies are reportedly “bracing for a slugfest” without a financial advantage.

The Biden campaign raised approximately $30 million earlier this month at a Hollywood fundraising event featuring former President Barack Obama and actors George Clooney and Julia Roberts. While recent polls show Biden gaining ground in the race, surveys by Emerson College and media outlet indicate Trump is leading in all of the “swing states” expected to decide the election.