President Joe Biden raised more than $97 million for his presidential campaign and the Democratic Party in the fourth fundraising quarter last year as he readies a sizable campaign war chest to face off against a Republican opponent in November.
Biden’s reelection campaign, along with the Democratic Party, ended the year with $117 million, which the campaign notes is the highest cash-on-hand figure for any Democratic candidate at this point in the cycle.
The Biden campaign’s announcement marks the biggest fundraising haul of the president’s reelection bid and comes as Republicans are set to kick off their primary contests with the Iowa caucuses Monday evening. Biden has spent the start of 2024 ramping up his attacks on former President Donald Trump, who Biden’s advisers view as his likely opponent.
A CBS News/YouGov poll released Sunday found there is no clear leader in a hypothetical general election matchup between Biden and Trump, with 50% of likely voters backing the former president and 48% supporting the current one.
“This historic haul — proudly powered by strong and growing grassroots enthusiasm — sends a clear message: The Team Biden-Harris coalition knows the stakes of this election and is ready to win this November,” said Biden campaign manager Julie Chavez Rodriguez.
Biden and the Democratic Party last quarter exceeded the $72 million and $71 million raised in the second and third quarters of 2023, respectively. And for the first time, Biden outraised the amount brought in by former President Barack Obama at the same point in the cycle. Obama raised $68 million in the fourth quarter of 2011, and Biden’s team had eyed a roughly $67 million target for last quarter. Donation limits have increased in the years since Obama’s reelection campaign, allowing Democrats to raise more money from individual donors.
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