How Is The Coronavirus Affecting The Presidential Election? Trump, Biden Report Fundraising Figures

The coronavirus has had an impact on nearly every American's finances. A big question that has lingered has been how stimulus checks, rising unemployment figures and a plunging stock market would impact campaign fundraising for the November elections.

President Trump’s reelection campaign, along with the Republican National Committee, brought in more than $61.7 million in April, edging Democratic presidential candidate Joe Biden for the month. Biden, along with the Democratic National Committee, raised a total of $60.5 million for the month.

At the end of April, the Trump team reportedly had a total of $255 million cash in the bank. The DNC did not release cash-on-hand figures for April, though Biden had $26.4 million in his campaign account at the end of March.

The ongoing coronavirus pandemic has slowed down the fundraising cycle, forcing campaigns to raise money via virtual events. The Biden campaign, for example, held 11 fundraisers over Zoom in April.

On Friday, Biden held a virtual fundraising event with California Gov. Gavin Newsom, bringing in $2.7 million. Newsom endorsed Biden during the event.

"You get it, and you've gotten it done over the course of decades,'' Newsom told Biden. "You've been on the frontlines of fighting against poverty, ignorance, and disease. You have a deep compassion and empathy, you see the world from other people's eyes.''

The Trump campaign is also using technology to help his campaign, launching a phone app to rally supporters last month. The app helps Trump supporters keep track of his virtual events and livestreams, while offering rewards.

Trump, who benefits from a fundraising haul that comes with incumbency, has not been able to hold traditional rallies amid the outbreak but has frequently promoted his response to the virus during frequent White House briefings.

Biden has campaigned from his Delaware home and attacked Trump’s handling of the crisis.

In April 2016, Hillary Clinton's campaign took in a total of $36 million, while Bernie Sanders raised $25.8 million for the month. The combined amount is slightly more than Biden's haul in April 2020.

The U.S. currently has the most coronavirus cases and the highest death toll in the world. As of Tuesday at 11:45 a.m. ET, the U.S. has 1,351,200 coronavirus cases and 80,900 deaths.