2024 Election Funding
President Joe Biden faces obstacles on the road to reelection, but money is not expected to be one of them. Biden allies have committed over $700 million to support his campaign, while Trump's financial situation is showing cracks. Money could be a deciding factor in the 2024 election, with spending expected to surpass previous records.
Key Points
- Biden was the first candidate in US history to raise more than $1 billion in 2020
- Spending in the 2024 election is expected to surpass the $14.4 billion record set in 2020
- Money could play a crucial role in the tight margins of the 2024 election
Pros
- Biden allies have committed over $700 million to support his reelection campaign
- Biden has amassed an impressive war chest that includes early and united support of the party and issue groups
- Democrats are ahead in fundraising compared to Republicans
Cons
- Trump's financial situation is starting to show cracks
- Trump's campaign spent more than it raised in January
- Allied political action committees are spending millions on Trump's legal defense