Biden Campaign Raised $42 Million in January, Reports Record Cash Pile

President Joe Biden and the Democratic National Committee (DNC) raised more than $42 million in January thanks to the growing grassroots fundraising program, the Biden campaign said in a statement.

The campaign is now sitting on $130 million in cash, marking the highest amount ever by a Democrat candidate at this point in an election cycle.

“January’s fundraising haul—driven by a powerhouse grassroots fundraising program that continues to grow month by month—is an indisputable show of strength to start the election year,” Julie Chavez Rodriguez, the Biden-Harris 2024 campaign manager, said in the statement. “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.”

Since launching his reelection campaign in April last year, President Biden has raised $278 million from nearly 1 million donors.

“We are particularly proud that January shattered our grassroots fundraising record for a third straight month,” TJ Ducklo, senior communications adviser, said in the statement. “This haul will go directly to reaching the voters who will decide this election.”

The campaign emphasized its commitment to promoting the significance of the upcoming election and what’s at stake.

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Strong fundraising comes despite the president’s low approval ratings and concerns about his age, his management of the economy, and the border crisis.

The campaign stated that it added more than 1 million email addresses to its distribution list and raised $1 million per day in the three days following the Iowa Republican caucuses.

According to the campaign, 97 percent of all donations have been less than $200, and 1.1 million donors have donated roughly 3 million contributions since its launch.

“January’s unprecedented fundraising numbers underscore the grassroots momentum to send Joe Biden and Kamala Harris back to the White House, and elect Democrats up and down the ballot this November,” DNC Chair Jaime Harrison said.

Meanwhile, the Republican National Committee raised its lowest amount of money in a decade in 2023, according to its filings with the Federal Election Commission. The GOP’s primary committee reported it had about $8 million on hand at the end of 2023. President Trump’s campaign had $33 million in cash on hand. Neither has published their January fundraising totals.

Nikki Haley’s campaign said that she raised $16.5 million in January, with $11.7 million coming from grassroots supporters.

President Biden is traveling to California on Tuesday to raise more funds for his reelection bid. He plans to court deep-pocketed Democratic donors during his visits to San Francisco, Los Altos Hills, and Los Angeles.