Pro-Biden group raised $208M as Dems brace for tough election year
The top outside group supporting Joe Biden’s reelection raised $208 million in 2023.
The top outside group supporting President Joe Biden raised $208 million in 2023, an enormous sum as Democrats gear up for a difficult reelection year.
Future Forward’s total haul, shared first with POLITICO, combined with the nearly $100 million raised by the Biden campaign operation in the final quarter of the year, likely gives the president a significant fundraising advantage over his Republican rivals. The Future Forward total includes money raised by both its super PAC and nonprofit arm, Future Forward USA Action. Together, they serve as the Biden campaign’s preferred outside avenue for raising unlimited funds from high-dollar donors.
Democrats are already spending as they prepare for a likely rematch with former President Donald Trump. Throughout 2023, Future Forward aired pro-Biden ads touting the Inflation Reduction Act, particularly capping of the price of insulin and investment in manufacturing jobs. They also ran a Latino-focused ad program in Arizona, Nevada and Pennsylvania.
“Whether it’s ensuring that Americans know about President Biden’s work to lower costs or making clear the threat Donald Trump is to our country, Future Forward is putting together an unprecedented effort to get the jobs done,” Chauncey McLean, president of Future Forward USA Action and Future Forward PAC, said in a statement.
Trump’s primary super PAC, Make America Great Again, Inc., hasn’t yet released its fundraising totals for 2023. It had reported having about $31 million in cash on hand and raising nearly $15 million in the first half of 2023. Future Forward raised about $50 million during that period.
The constellation of Democratic super PACs working to lift up Biden also includes American Bridge and Priorities USA. Last week, American Bridge announced it plans to spend $140 million on paid ads during the 2024 cycle. Priorities USA said last spring that it will be dropping $75 million on digital ads to back the president.
Future Forward’s top donors include Facebook co-founder Dustin Moskovitz and Twilio founder Jeff Lawson.
In 2020, the group spent $150 million to support Biden, according to OpenSecrets. That made it the third largest advertiser in the general election campaign, behind only the campaigns of Biden and Trump.