According to the Federal Election Commission fundraising report, former President Donald Trump and the Republican National Committee raised tens of millions more than President Joe Biden, significantly reducing the financial disparity between their campaigns.

After his May 30 guilty verdict in the Manhattan hush-money case, Trump raised a record-breaking $141 million in May, surpassing Biden’s total of $85 million by nearly $60 million in monthly fundraising.

Despite Biden’s lower total, his May numbers represent the second-highest month of fundraising for his campaign and allied groups, achieved without any major fundraisers or events held last month.

Biden’s cash on hand has increased to $212 million, up from the $192 million that his campaign had at the end of April.

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Our strong and consistent fundraising program grew by millions of people in May, a clear sign of strong and growing enthusiasm for the President and Vice President every single month,” said Biden campaign manager Julie Chavez Rodriguez in a statement.

“The money we continue to raise matters, and it’s helping the campaign build out an operation that invests in reaching and winning the voters who will decide this election,” she added.

Biden also recently received a $20 million donation from former New York City Mayor Michael Bloomberg for the pro-Biden Future Forward super PAC and his joint fundraising committee with the Democratic National Committee. However, these contributions will not be reflected until the release of next month’s FEC filings.

Despite Biden’s strong fundraising performance in May, he did not surpass Trump, whose popularity with donors surged after his guilty verdict. Trump raised $53 million in the 24 hours following his conviction, representing 37.6% of his total for the month.

Additionally, Make America Great Again Inc., the pro-Trump super PAC, received a $50 million donation from billionaire Timoney Mellon on May 31, just one day after Trump’s conviction.

In May, Trump’s team and the RNC have outraised Biden and the DNC for the second consecutive month, bringing in $76 million compared to the Democrat’s $51 million in April.

Brendan Glavin, the deputy research director at OpenSecrets, in a recent interview, argued that Trump’s robust fundraising, which has given him a nearly $14 million cash-on-hand advantage over the Biden campaign, has significantly altered the presidential race’s course.

“The momentum has switched from a financial standpoint” between Biden and Trump, said Glavin.

He also noted that Trump’s fundraising surged well before his conviction last month, immediately following the primaries and his securing of the Republican nomination. This allowed him to establish a joint fundraising committee with the RNC, which provided him a “big boost.”

Additionally, Trump’s rise in donations from small donors has accelerated his fundraising pace significantly. This not only enables him to invest in television ads but also to bolster ground operations – a crucial area where the Biden campaign has excelled

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