As the House voted to impeach the president, the Trump campaign pulled in $5 million on Wednesday as donors rushed to pad the campaign’s war chest with more money. Impeachment has been good for the Trump campaign — and to Republicans who pulled in a record $20.6 million in the month of November alone.
The haul is the best November fundraising numbers for the party in its history.
“Democrats’ baseless impeachment charade has only served to bolster our base and attract more voters to our cause and the result is another record-breaking fundraising month,” said Republican National Committee Chairwoman Ronna McDaniel.
Since House Speaker Nancy Pelosi (D-CA) announced a formal impeachment inquiry some three months ago, the RNC has received money from 600,000 new small-dollar donors.
At the time of the inquiry announcement, President Trump’s campaign raked in $1 million in just three hours. And once the impeachment hearings started, the money kept rolling in.
According to Trump’s campaign manager Brad Parscale, the president’s campaign raised $3,144,257 after the impeachment hearings began, setting a goal of $5 million.
While Democrats have avoided fundraising off of impeachment, it’s a fundraising strategy that is working well.
The GOP currently has $63.2 million in cash on hand, while according to the most recent FEC filings, the president has an eye-popping $83 million in cash on hand. Cash on hand is important because it’s money that can be used on much-needed campaign expenditures like payroll, political advertisements, travel, and more. For the 2020 elections so far, Trump has raised a staggering $165.3 million.
Trump and the RNC raised $125 million in the third quarter, blowing past Democrats’ fundraising totals. By the close of the third quarter, according to Parscale, the president and the Republicans had a total of $156 million in cash on hand with nearly $310 million raised so far this year.
In contrast, Sen. Bernie Sanders, who has pulled in the most among all the Democratic candidates, has $34 million cash on hand, raising roughly half of what Trump has, at $74.5 million in total for his 2020 campaign. Former Vice President Joe Biden only has $9 million cash on hand.
Democrats have also received boosts from impeachment. Democratic fundraising platform ActBlue has raised over $7 million since the impeachment hearings began last month — and counting, according to the donation tally on the ActBlue website.
Kristin Myers is a reporter at Yahoo Finance. Follow her on Twitter.
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