Trump Raises $266 Million in Second Quarter, Widening Advantage

July 2, 2020by Mario Parker and Bill Allison, Bloomberg News (TNS)
U.S. President Donald Trump reacts after signing H.R. 7010 - PPP Flexibility Act of 2020 in the Rose Garden of the White House in Washington on June 5, 2020. (Yuri Gripas/Abaca Press/TNS)

WASHINGTON — Donald Trump’s campaign along with the Republican National Committee raised $266 million during the second quarter of 2020, widening the president’s cash advantage over Joe Biden.

The Trump campaign said Wednesday that it increased its fundraising by 71% from the first quarter, despite the coronavirus pandemic, which shut down large swathes of the economy. Trump only held two fundraising events during the second quarter. Most of the money was brought in through digital, online and mail-in efforts.

The second-quarter total includes $131 million Trump’s campaign and its joint fundraising vehicles raised in June, when they took in an average of about $4.3 million per day, including $14 million in an effort geared around Trump’s birthday.

His reelection effort has raised more than $947 million over the past two years, and has about $295 million cash on hand, it said.

Trump’s fundraising in the current election cycle dwarfs that of his Democratic opponent. Biden, the Democratic National Committee and a supporting vehicle have raised $422.3 million through May. The former vice president hasn’t announced his June fundraising totals.

Biden and the DNC raised $139.7 million in the first two months of the quarter. At the end of May, his campaign and the DNC had $122 million in the bank, though that number doesn’t include balances held by the Biden Victory Fund, which can accept checks of as much as $620,800.

Biden Victory is to report to the Federal Election Commission on July 15.

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©2020 Bloomberg News

Distributed by Tribune Content Agency, LLC.

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