Published on Alternet (http://www.alternet.org)
Home > Bernie Raised a Record-Breaking $3 Million in 24 Hours Following Iowa
Caucus
________________________________________
Bernie Raised a Record-Breaking $3 Million in 24 Hours Following Iowa Caucus
By Steven Rosenfeld [1] / AlterNet [2]
February 3, 2016
Bernie Sanders' presidential campaign had its best small-donor fundraising
day yet following Monday night's photo finish with Hillary Clinton in Iowa's
caucuses. The campaign brought in $3 million, and four out of 10 givers were
new donors.
"I think the significance is, for folks who did not think Bernie Sanders
could win, that we could compete against Hillary Clinton - I hope that that
thought is now gone," Sanders told [3] CNN on Tuesday morning.
The fact that Sanders is not just raising the funds needed to compete in the
next primary and caucus states, but apparently is growing his donor base
signals the contest for the 2016 Democratic Party presidential nomination
will continue well into March. More than 1,000 delegates are at stake the
first Tuesday in March.
Sanders has continually railed against the country's corrupt campaign
finance system, in which a handful of wealthy supporters reach out to their
networks and expect their candidate, if elected, to mirror their interests.
Sanders says that wealth- and class-based bias is why Congress does not pass
domestic legislation favored by the working- and middle-classes.
Sander, in contrast, is showing the country an alternative to that model-a
national movement fueled by millions of donors giving an average of $29, the
figure he cited in his Iowa caucus night speech. What's especially
noteworthy about his donor base is the vast majority of donors are nowhere
near maxing out under the legal limit. They can keep giving in dribs and
drabs, adding up to millions, as long as the Sanders campaign keeps making
progress.
"Bernie Sanders' presidential campaign is funded by small donors who gave an
average of about $29 each in the past year while Hillary Clinton has relied
on the wealthy to bankroll her presidential bid, new financial disclosure
reports reveal," the campaign said in a press release accompanying its
January 31 Federal Election Commmission report.
"Only 649 of Sanders' more than 1.3 million backers have donated the $2,700
maximum that an individual may give to a candidate to help fund campaigns in
primary elections and caucus states," the campaign's statement said. "Only
2.3 percent of Sanders' total money raised comes from maxed-out donors. With
far fewer total donors, Clinton has tapped out more than 23,000 of her
donors who have given to her campaign committee all that the law allows for
the primary election and may donate no more. Her maxed-out donors provided
nearly 60 percent of the primary money raised for her campaign committee."
The campaign statement gave more numbers that show it is people-powered.
"Another way to gauge support is to examine donations of $200 or more, the
legal threshold for which donations must be itemized in FEC reports," it
said. "In Clinton's case, 83 percent of her money came from donors who gave
more than $200. In contrast, only 26 percent of the money raised for Sanders
came from donors above the $200 threshold."
The fundraising burst after the Iowa caucuses is not the first for the
campaign. In addition to raising $20 million in January alone, late last
year it raised $1 million after a fight with the Democratic National
Committee over security breaches in the campaign's voter database managed by
the DNC.
Still, Clinton's fundraising prowess should not be discounted. Before this
week's fundraising burst, Sanders was being out-raised two-to-one by
Clinton, with her campaign and its allies raising $163.5 million, while he
raised $75.1 million, as of January 31.
What's also notable, as a chart [4] of both party's presidential candidates
shows, is that Sanders is the only candidate without a super PAC (led by
wealthy individuals murkily coordinating with the campaign) and that he has
also run the most cost-efficient campaign. When looking at the amounts
spent, the electoral result and the remaining cash on hand, Sanders'
campaign arguably manages its money better than the competition does.
Clinton has $38 million left as of the campaign's last FEC report, while
Sanders has a reported $28 million in the bank. That was before the
post-Iowa fundraising blitz.
Steven Rosenfeld covers national political issues for AlterNet, including
America's retirement crisis, democracy and voting rights, and campaigns and
elections. He is the author of "Count My Vote: A Citizen's Guide to Voting"
(AlterNet Books, 2008).
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[6]
________________________________________
Source URL:
http://www.alternet.org/election-2016/bernie-raised-record-breaking-3-millio
n-24-hours-following-iowa-caucus
Links:
[1] http://www.alternet.org/authors/steven-rosenfeld
[2] http://alternet.org
[3]
http://www.cnn.com/2016/02/02/politics/bernie-sanders-iowa-caucuses-2016/
[4]
http://www.nytimes.com/interactive/2016/us/elections/election-2016-campaign-
money-race.html?_r=0
[5] mailto:corrections@xxxxxxxxxxxx?Subject=Typo on Bernie Raised a
Record-Breaking $3 Million in 24 Hours Following Iowa Caucus
[6] http://www.alternet.org/
[7] http://www.alternet.org/%2Bnew_src%2B
Published on Alternet (http://www.alternet.org)
Home > Bernie Raised a Record-Breaking $3 Million in 24 Hours Following Iowa
Caucus
Bernie Raised a Record-Breaking $3 Million in 24 Hours Following Iowa Caucus
By Steven Rosenfeld [1] / AlterNet [2]
February 3, 2016
Bernie Sanders' presidential campaign had its best small-donor fundraising
day yet following Monday night's photo finish with Hillary Clinton in Iowa's
caucuses. The campaign brought in $3 million, and four out of 10 givers were
new donors.
"I think the significance is, for folks who did not think Bernie Sanders
could win, that we could compete against Hillary Clinton - I hope that that
thought is now gone," Sanders told [3] CNN on Tuesday morning.
The fact that Sanders is not just raising the funds needed to compete in the
next primary and caucus states, but apparently is growing his donor base
signals the contest for the 2016 Democratic Party presidential nomination
will continue well into March. More than 1,000 delegates are at stake the
first Tuesday in March.
Sanders has continually railed against the country's corrupt campaign
finance system, in which a handful of wealthy supporters reach out to their
networks and expect their candidate, if elected, to mirror their interests.
Sanders says that wealth- and class-based bias is why Congress does not pass
domestic legislation favored by the working- and middle-classes.
Sander, in contrast, is showing the country an alternative to that model-a
national movement fueled by millions of donors giving an average of $29, the
figure he cited in his Iowa caucus night speech. What's especially
noteworthy about his donor base is the vast majority of donors are nowhere
near maxing out under the legal limit. They can keep giving in dribs and
drabs, adding up to millions, as long as the Sanders campaign keeps making
progress.
"Bernie Sanders' presidential campaign is funded by small donors who gave an
average of about $29 each in the past year while Hillary Clinton has relied
on the wealthy to bankroll her presidential bid, new financial disclosure
reports reveal," the campaign said in a press release accompanying its
January 31 Federal Election Commmission report.
"Only 649 of Sanders' more than 1.3 million backers have donated the $2,700
maximum that an individual may give to a candidate to help fund campaigns in
primary elections and caucus states," the campaign's statement said. "Only
2.3 percent of Sanders' total money raised comes from maxed-out donors. With
far fewer total donors, Clinton has tapped out more than 23,000 of her
donors who have given to her campaign committee all that the law allows for
the primary election and may donate no more. Her maxed-out donors provided
nearly 60 percent of the primary money raised for her campaign committee."
The campaign statement gave more numbers that show it is people-powered.
"Another way to gauge support is to examine donations of $200 or more, the
legal threshold for which donations must be itemized in FEC reports," it
said. "In Clinton's case, 83 percent of her money came from donors who gave
more than $200. In contrast, only 26 percent of the money raised for Sanders
came from donors above the $200 threshold."
The fundraising burst after the Iowa caucuses is not the first for the
campaign. In addition to raising $20 million in January alone, late last
year it raised $1 million after a fight with the Democratic National
Committee over security breaches in the campaign's voter database managed by
the DNC.
Still, Clinton's fundraising prowess should not be discounted. Before this
week's fundraising burst, Sanders was being out-raised two-to-one by
Clinton, with her campaign and its allies raising $163.5 million, while he
raised $75.1 million, as of January 31.
What's also notable, as a chart [4] of both party's presidential candidates
shows, is that Sanders is the only candidate without a super PAC (led by
wealthy individuals murkily coordinating with the campaign) and that he has
also run the most cost-efficient campaign. When looking at the amounts
spent, the electoral result and the remaining cash on hand, Sanders'
campaign arguably manages its money better than the competition does.
Clinton has $38 million left as of the campaign's last FEC report, while
Sanders has a reported $28 million in the bank. That was before the
post-Iowa fundraising blitz.
Steven Rosenfeld covers national political issues for AlterNet, including
America's retirement crisis, democracy and voting rights, and campaigns and
elections. He is the author of "Count My Vote: A Citizen's Guide to Voting"
(AlterNet Books, 2008).
Error! Hyperlink reference not valid.
Error! Hyperlink reference not valid.
Report typos and corrections to 'corrections@xxxxxxxxxxxx'. [5]
Error! Hyperlink reference not valid.[6]
Source URL:
http://www.alternet.org/election-2016/bernie-raised-record-breaking-3-millio
n-24-hours-following-iowa-caucus
Links:
[1] http://www.alternet.org/authors/steven-rosenfeld
[2] http://alternet.org
[3]
http://www.cnn.com/2016/02/02/politics/bernie-sanders-iowa-caucuses-2016/
[4]
http://www.nytimes.com/interactive/2016/us/elections/election-2016-campaign-
money-race.html?_r=0
[5] mailto:corrections@xxxxxxxxxxxx?Subject=Typo on Bernie Raised a
Record-Breaking $3 Million in 24 Hours Following Iowa Caucus
[6] http://www.alternet.org/
[7] http://www.alternet.org/%2Bnew_src%2B
