President Joe Biden to announce re-election bid in late April
The amount (for the third quarter from July to September) is also approximately the $72 million that President Biden and the Democratic Party raised in the previous quarter, from April to June.
Reuters quoted observers as saying that the period from July to September before an election year is traditionally quite slow in terms of raising funding for candidates' campaigns.
As of the end of September, the Democratic administration's re-election effort had $91 million in cash on hand, part of it coming from party-affiliated fundraising organizations.
Mr. Biden's re-election campaign management team, headquartered in the current US President's hometown of Wilmington, Delaware, said it would use the funds raised to hire staff, organize a nationwide campaign and launch advertising campaigns.
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By comparison, Donald Trump, when he was President of the United States, and the Republican National Committee raised $125 million in campaign money for his re-election campaign in the third quarter of 2019. This figure is far more than Mr. Biden's current re-election campaign.
Barack Obama and the Democratic National Committee raised $70 million in 2011 as they launched their re-election effort. Even accounting for inflation, President Biden did not raise as much as his predecessor.
The total re-election campaign money announced on October 15 cannot be directly compared with Republican opponents, because it includes Democratic Party accounts controlled by Biden allies.
In addition, the Republican Party is still in the process of selecting its candidate to represent the party in the 2024 US election. And currently, the amount of support for this party is being divided among the candidates in the primary election.
In early October, Mr. Trump announced that his campaign raised more than $45.5 million from July to September. His closest rival, Florida Governor Ron DeSantis, raised $15 million during the same period.
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