Biden outraised Trump by $8 million, closed cash-on-hand gap in June

Joe Biden outraised Donald Trump by $8 million and closed the cash-on-hand gap in June, according to campaign finance reports filed with the Federal Election Commission on July 20.

The Biden campaign raised $63.4 million in June, a percentage difference of 13.8% from the Trump campaign’s $55.2 million. Trump’s campaign spent $50.3 million compared to Biden’s $36.9 million. As of June, the Biden and Trump campaigns were nearly matched in cash on hand with $108.9 million and $113 million, respectively. Trump continues to lead Biden in overall fundraising since the beginning of 2017 ($342.7 million to $278.8 million).

Biden’s campaign raised 71% more in June than it did in May ($63.4 million versus $37 million), while Trump more than doubled his receipts ($24.9 million versus $55.2 million).

Trump’s $342.7 million in overall fundraising is the third-highest figure for any presidential candidate at this point in the past four cycles. The only candidate to have outraised him was Barack Obama (D), who had raised $444.3 million in inflation-adjusted funds at this point in 2008 and $358.2 million at this point in 2012. Trump’s cash-on-hand total of $113 million is the highest of any candidate’s at this point in the election cycle, topping Obama’s $112.2 million in inflation-adjusted cash-on-hand in July 2012.

Biden and Trump’s combined $621.6 million in fundraising is the second-highest combined total across the four most recent election cycles. At this point in the 2008 campaign, Barack Obama and John McCain (R) had raised a combined inflation-adjusted $634.1 million. Obama and Mitt Romney (R) had raised a combined $538.5 million in 2012, while Trump and Hillary Clinton (D) had raised a combined $384.1 million.

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