Outside Groups Pledge $1 Billion To Biden—As Trump Reportedly Struggles To Fundraise
by Alison Durkee
March 19, 2024
Introduction:
(Forbes) Outside Democratic-leaning groups have pledged more than $1 billion to help President Joe Biden’s reelection, the New York Times reported Tuesday, giving the incumbent a major fundraising boost as the general election heats up—and as rival Donald Trump reportedly scrambles to raise cash.
Key Facts
The League of Conservation Voters, a climate-focused group, pledged to donate $120 million to Biden’s reelection, the Times reports, putting the fundraising haul by outside groups over the $1 billion mark.
The biggest groups spending money on Biden’s reelection are super PAC Future Forward, the Service Employees International Union and research organization American Bridge, according to the Times, which have pledged between $140 million and $250 million on advertising and other campaign help.
Outside groups—which cannot directly coordinate with the Biden campaign—are likely to raise between $2.5 billion and $3 billion by November, former Emily’s List president Stephanie Schriock predicted to the Times.
Additional extract:
Contra
Outside GOP groups are similarly likely to spend a lot of money on Trump’s reelection, the Times notes, but it’s hard to compare the two camps’ fundraising hauls right now. While Democratic groups pledge money even before it’s necessarily all raised, Republican groups rely more on big donors and don’t announce their plans in advance, the Times reports. Among the outside groups expected to spend big on Trump is evangelical group Faith & Freedom, which has already pledged $62 million to support the ex-president.
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