Former Secretary of State Hillary Clinton has raised $2 million for 2020 candidate Joe Biden's joint fundraising committee with the Democratic National Committee at a virtual event, Politico reported Wednesday night.
Why it matters: Per Politico, it's a record haul for a Biden surrogate at a single event with the former vice president not in attendance. President Trump's campaign has raised much more than Biden's. But the Democrat has made significant fundraising gains in the past two months, and the new DNC pact is another boost.
- The partnership with the DNC announced last month allows individual donors to contribute up to $360,600 — a huge jump from the $5,600 maximum that an individual can donate to his campaign.
By the numbers: Federal Election Commission fundraising data for April released Monday shows Trump's re-election campaign raised with the Republican National Committee $61.7 million.
- Biden's campaign and the DNC raised $60.5 million for the same period. Biden's campaign alone raised $43.7 million of that amount — slightly less than his best monthly total of $46.7 million in March.
- Politico notes that the "Trump operation said it had over $255 million in cash on hand at the end of last month," whereas Biden and the DNC have "$97.5 million in the bank." The fundraising total of the Democrats' joint committee has yet to be disclosed.
The bottom line: The Democrats will have to raise much more to catch the Republicans.
What to watch: Democrats expect former President Obama to draw during summer campaigning significantly more than Clinton's fundraising total from Tuesday's Zoom event.
- "Obama is the kind of person who can make any Democrat give twice," a Democratic official told Politico.
Go deeper: GOP's small-dollar fundraising platform raises $60M in April
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