U.S. President Joe Biden gives a thumbs up as he departs for Japan from the White House in Washington, May 17, 2023.
Kevin Lamarque | Reuters
President Joe Biden and the Democratic Party have put together a 50-state joint fundraising strategy in a bid to give him an overwhelming financial edge over his potential Republican challenger.
Biden’s joint fundraising committee, the Biden Victory Fund, is now raising campaign cash with all 50 state Democratic Party committees, along with Washington D.C.’s local committee, the president’s campaign told CNBC.
The nationwide effort is shaping up to be larger than the strategy used during Biden’s 2020 run for president, when the same fundraising operation raised over $600 million and doled out millions of dollars to 47 Democratic state parties, according to data from the nonpartisan OpenSecrets. The Biden committee also helps raise money for the Democratic National Committee.
A senior DNC official told CNBC that the Biden Victory Fund, in addition to all of the state committees they worked with in 2020, will also be fundraising with committees from Iowa, California, South Dakota and Illinois. Those four state committees did not fundraise with the Biden Victory Fund in 2020, according to OpenSecrets.
The Biden team said the new effort represents the first time a candidate for president has joint fundraising agreements with every state party, along with D.C.
“While MAGA Republicans burn cash in their primary, competing for whose agenda is the most extreme, the President’s campaign will be capitalizing on the opportunity to raise significant resources that will help expand on our winning 2020 Biden coalition,” Julie C. Rodriguez, Biden’s 2024 campaign manager, said in a statement to CNBC. “Combined with our robust grassroots fundraising network, never before has a campaign had more powerful fundraising tools with a longer runway, and with freedom and democracy on the line in this election – we intend to use them.”
Biden’s…
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