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What You’re Not Being Told About Biden’s Fundraising

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Media reports on the June fundraising totals would have you believe that Joe Biden “tops” or “beats” President Trump. However, whoever is running Biden’s campaign better keep the corks in the champagne bottles because the truth is June was a terrible month for Biden and the Democratic Party. 

Joe Biden was an anemic fundraiser throughout his primary battle. A report from Politico in October 2019 said Biden was getting “crushed” in fundraising. It argued, “Obama and Clinton’s biggest donors favor Biden, yet he still can’t match his rivals’ cash flow.” According to the report, Biden had more big-money bundlers and donors from Obama and Clinton than any of his competitors. Now, as the presumptive nominee, the rest should presumably be in his corner, as well.

However, during a primary, the value of big donors and high-dollar bundlers is greatly reduced by federal contribution limits — it was why Biden consistently struggled, and it was why Bernie Sanders’ grassroots dollars made him such a prolific fundraiser. Biden, along with every other candidate, was limited to receiving a maximum of $5,600 from an individual or $11,200 from a couple. 

That changed in mid-May, after Biden secured enough delegates to become the presumptive nominee. This status allowed the Biden campaign to create a joint fundraising agreement with the Democratic National Committee and various other committees and state parties. After inking this contract with the DNC and 26 state Democratic Party organizations, “The Biden Victory Fund” took the $5,600 contribution cap and expanded it more than 100-fold — the new committee can now accept up to $620,600 per person. Every dollar after the initial $5,600 that is given to the campaign is then shared with the DNC and various organizations that are all organizing in support of Biden’s candidacy.:snip:

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