The 2024 election season is already heating up as outside groups pledge a staggering $1 billion to support President Biden’s re-election bid. The League of Conservation Voters, a prominent climate organization, announced a $120 million pledge on Tuesday, pushing the total expected spending from outside groups to a whopping $1 billion.
These funds come from nearly a dozen organizations, including climate groups, labor unions, and traditional super PACs, all rallying behind Mr. Biden. The largest spenders so far include Future Forward, the super PAC endorsed by the Biden campaign, which has reserved over $250 million for advertising, and the Service Employees International Union, committing $200 million to support Mr. Biden and fellow Democrats.
The scale of this financial backing is unprecedented, with Tiffany Muller, president of End Citizens United, calling it historic. The League of Conservation Voters is set to host its annual dinner in Washington on Wednesday, with top Democratic figures expected to attend.
Stephanie Schriock, former president of Emily’s List, predicts that outside money supporting Mr. Biden could reach $2.5 billion to $3 billion, with a focus on legal issues and get-out-the-vote efforts. Meanwhile, Republican groups are also gearing up for a big spending push ahead of the election.
The disparity between pro-Biden and pro-Trump outside groups reflects the cash advantage Mr. Biden’s campaign holds over his Republican counterpart. With the Biden campaign entering March with $155 million in cash on hand, compared to the Trump campaign’s $40 million, the financial landscape is clearly in favor of the Democrats.
As the election season progresses, the influx of outside money is expected to continue, with organizations like Planned Parenthood and groups backed by Michael Bloomberg likely to contribute significant sums. The outcome of this financial arms race could have far-reaching implications for the future of campaign finance in America.
Stay tuned for more updates on the primary elections and the escalating battle for financial support in the 2024 election.
