September 30, 2022

Democratic presidential candidate and former Vice President Joe Biden smiles during an event to announce his plans to tackle racial inequality on July 28, 2020 in Wilmington, Delaware.

Jonathan Ernst | Reuters

The National Democratic Committee went into May with over $ 56 million, most of what the committee had in its war chest at that point in a year.

The DNC ended April and raised $ 15.6. Millions, according to numbers first shared with CNBC by a committee speaker. The DNC plans to post more details about its fundraiser on Federal Election Commission filings later Thursday.

“DNC will report $ 15.6 million raised in April. This is the highest fundraiser ever outside of the year. DNC has $ 56.3 million in cash, most of which which the DNC had at this point in a year, “said the representative of the committee in a statement.

By comparison, the Republican National Committee raised over $ 13 million in April. While the DNC raised more than the RNC last month, the GOP campaign arm went into May with significantly more cash, as FEC records show. According to the records, the RNC had over $ 90 million as of the month under review.

Former President Donald Trump has also raised funds from his PAC leadership, Save America, while large sections of the Republican Party continue to seek approval if he considers running in 2024. He also continued to falsely claim that the 2020 elections were rigged against him.

The DNC move shows that Biden and the Democrats are in a position to be well prepared for the struggle to evolve the president’s agenda and for next year’s midterm elections.

Biden said he intends to run for re-election in 2024. The DNC’s continued success would give the president solid financial resources to get his campaign off the ground.