July 27, 2023

Biden, Trump outraising party rivals

President Joe Biden, who announced his campaign in April, leads Democratic candidates with $19.8 million raised but trails former President Donald Trump’s $33.1 million raised since he announced his presidential bid in November.

ByteDance spends millions lobbying, outpacing prior years amid crackdown on TikTok’s China ties

ByteDance, the company that owns TikTok, poured millions into lobbying spending amid a nationwide push to ban the video-sharing app after U.S. officials increased scrutiny over data security and its Chinese government ties.

Manchin outraises GOP challengers but has yet to announce 2024 plans

Sen. Joe Manchin (D-W.Va.) has yet to announce whether or not he’ll be running for reelection in 2024 and hasn’t ruled out a presidential run either. But Manchin raised more money during the second quarter of this year than the two major GOP candidates vying for his seat, adding to his major cash advantage. 

Virginia legislative candidates in Richmond and Hampton Roads raked in millions in final primary sprint

Virginia legislative candidates across Greater Richmond and Hampton Roads raised nearly $3.8 million in the last three weeks of June — mostly from big donors giving more than $10,000 to their campaigns, according to an OpenSecrets analysis of campaign finance reports filed on July 17.

This story was produced in partnership with the Virginia Center for Investigative Journalism at WHRO.

Dive deeper into the data behind the headlines

This week's chart of the week comes from our headlining story on 2024 presidential race fundraising totals and shows the amount of cash on hand for each candidate. Cash on hand is an important number for campaigns, as it shows the amount of money candidates actually have in the bank after expenses, indicating their financial firepower in elections.

Biden’s campaign has $20.1 million left in cash, but his campaign account remains behind Trump’s $22.5 million and Scott’s $21.1 million. 

Out of all candidates, Williamson is left with the fewest resources, ending June with less than $105,000 in her campaign account as of June 30, compared with Kennedy’s $4.5 million.

See our media citations from outlets around the nation this week:

Top 5 largest US pharma firms’ net earnings topped $81.9 billion last year: watchdog (The Hill)

PhRMA and the Chamber of Commerce were two of the top three federal lobbying spenders in 2022, spending $29.2 million and $81 million, respectively, to lobby on a range of issues including drug price negotiations, according to federal lobbying disclosures analyzed by the nonpartisan money-in-politics sleuths at OpenSecrets. 

Republicans raise cash from the Wall Street firms they bash (Politico)

Political fundraising arms of House Financial Services Chair Patrick McHenry (R-N.C.), who has overseen a series of anti-ESG hearings this month, have taken more than $125,000 in contributions from Vanguard, State Street and BlackRock over the course of his career. He took more than $767,000 from the securities and investment industries in the 2022 election cycle, according to data compiled by the campaign finance watchdog OpenSecrets.

DeSantis' small-dollar donation ratio ranks near bottom of GOP field (Axios)

The 2020 presidential election saw high levels of grassroots support, with 48% of Trump's fundraising coming from small donors, according to Open Secrets. 38% of Biden's total fundraising haul came from small donors during 2020, per the OpenSecrets data.

USA Today

Reuters

Politico

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Bloomberg

The Brunswick News

Portland Press Herald

St. Louis Post-Herald

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