Biden announces record-breaking August fundraising haul of $364.5 million
The eye-popping monthly haul underscores the momentum the campaign generated with Biden’s announcement of the vice-presidential candidate and the Democratic National Convention last month. Sen. Kamala D. Harris (D-Calif.), the vice-presidential nominee, is a prolific fundraiser whose nomination generated a flurry of donations from her extensive donor network.
The previous presidential fundraising record was $202.5 million in September 2008 by the Obama campaign, the national party and an affiliated committee, according to an analysis by the nonpartisan research group Campaign Finance Institute. (That amount equates to roughly $244 million in 2020, adjusted for inflation.)
The August total for the Biden campaign, the Democratic National Committee and affiliated fundraising committees more than doubled the $140 million raised the previous month.
“That figure blows me away. And we raised it the right way, from people across the country stepping up to own a piece of this campaign, investing in the future we want to see for our kids and grandkids,” Biden said in a statement to supporters Wednesday.
Since May, Biden has quickly expanded his big-money fundraising capability. Through agreements with the Biden campaign, the Democratic National Committee and state parties, Biden has continued to increase the cap on the amount of money he can raise from a single donor.
Under a new agreement filed this week with the Federal Election Commission, a donor can now give up to $830,600 to support Biden, according to The Washington Post’s analysis.
The Trump campaign and the Republican Party have not yet released their August figures.
September is expected to be another strong fundraising month for the campaigns, with the first presidential debate taking place a day before the Sept. 30 fundraising deadline.