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WASHINGTON (BLOOMBERG) – Democratic presidential nominee Joe Biden’s campaign is delaying the release of its September fundraising record total out of concern that donations will decline in the final weeks of the race, according to three people familiar with the campaign thinking.
The campaign is raising record sums of money and does not want to stop donors from contributing more or give President Donald Trump a rallying cry for his donors with just 25 days left.
The September tour will be made public when the campaign and the Democratic National Committee submit their monthly reports to the Federal Election Commission (FEC) on October 20.
The campaign also wants to have enough money for any legal battles it may have to fight after Election Day, if the results are questioned, or if there are complications with the large number of absentee votes.
Bloomberg News first reported last week that the Democratic candidate’s total fundraising for September surpasses the record of $ 364.5 million raised in August, but the exact total was not immediately clear.
Rather than causing a sensation with an ad of that total, the campaign has closely held the number for over a week.
On October 1, 2016, Hillary Clinton announced that September’s total fundraising of $ 154 million was her best fundraising month of the campaign. Their combined war chest of $ 152.6 million was nearly double Trump’s total. But donors didn’t feel the same urgency to contribute after hearing the large number, according to a Democratic fundraiser who asked not to be named because the information is confidential.
Biden’s campaign staff did not reveal the fundraising number for September in a call with the national finance committee this week. Donors received a report from John Anzalone, the campaign’s pollster, and were encouraged to keep looking for donations.
A Biden campaign aide said this is not the first time they have delayed announcing their fundraiser, pointing to the May report, which wasn’t released until June 15.
The campaign raised more than $ 12 million on Wednesday alone, the day his running mate Kamala Harris debated with Vice President Mike Pence in Salt Lake City. Harris has been a prolific fundraiser for the campaign since joining the ticket in August.
The delayed announcement is a break from recent months when the campaign announced its fundraising totals just days after the month ended. Fundraising figures for August were released on September 2, July figures on August 5, and June figures on July 1.
INVESTMENT OF FORTUNES
Last month’s record followed an avalanche of money that entered the Democratic fundraising apparatus after the death of Supreme Court Justice Ruth Bader Ginsburg. Biden’s campaign also raised $ 31.5 million in just over 24 hours after the first debate with Trump.
In August, Trump and the Republican National Committee raised $ 210 million, $ 154 million less than Biden. The Trump campaign has yet to release its fundraising figures for September.
The success of Biden’s fundraiser reversed a huge financial advantage that Trump and the Republicans had just a few months ago. In April, Biden had about $ 98 million in the bank compared to the incumbent’s $ 255 million.
However, the enthusiasm of Democratic donors, fueled by opposition to Trump and further energized by the selection of Harris as Biden’s running mate, has given the former vice president an unprecedented financial advantage for a challenger.
Trump’s reelection effort was $ 325 million at the end of August, or $ 141 million less than Biden’s.
Two joint fundraising committees, which raise money for Biden’s campaign, the DNC and state parties, present their submissions on a quarterly basis and will report their numbers to the FEC on Thursday.
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