President Biden's campaign said Tuesday that it and Democrats raised $127 million in June, a sign of strength in a month that ended with a lackluster debate performance that cast doubt on the president's reelection effort.
The Biden campaign and related groups said they raised $38 million in the four days after Biden appeared stumped and confused at times during a debate with former President Donald Trump. Campaign officials said in calls with major donors on Monday night that Biden's fundraising remains strong as a reason Democrats need not panic.
Biden's June fundraising, buoyed by an event featuring Barack Obama, George Clooney and Julia Roberts, raised about $28 million, a record for a single Democratic fundraiser, which took place two weeks before Thursday's debate.
The Biden campaign decided to release its fundraising figures early as part of an attempt to project strength during an extremely difficult time for the campaign – the deadline for federal filings is July 20 – while the Trump campaign has yet to release its June fundraising figures.
Biden had led Trump in the cash race for months, but the Republican has taken the lead in recent days, thanks in part to fundraising that took advantage of Trump's conviction in New York on May 30. Trump's coalition outran Biden in both May and April, erasing the advantage Biden enjoyed for nearly the entire campaign.
Biden's total last month was the most he raised in any month of the election, but it surpassed that total four years ago in June 2020, when his campaign raised $141 million.
The Biden campaign has been investing heavily in advertising and opening campaign offices this time around due to weak poll numbers, but it's still building up its campaign coffers: In July, the Biden campaign reported having $240 million in cash on hand, up from $212 million the previous month.
Democrats had their biggest fundraising day ever after Biden's struggles in the debates. Progressive fundraising platform ActBlue said on its website that it raised $75 million on the platform in the final four days of the fundraising quarter.
Shane Goldmacher Contributed report.