According to CNBC, billionaire and former presidential candidate Michael Bloomberg is considering injecting US$250 million into the campaign of presumptive Democratic nominee, Joe Biden.
There are at least three super PACs backing Biden that Bloomberg could give to, Unite the Country, Priorities USA and American Bridge. Super PACs are independent political committees that may receive unlimited financial contributions from individuals, businesses and unions.
The additional injection comes after Bloomberg dropped out of the Democratic primary in March of this year. Subsequent to his exit, Bloomberg endorsed Biden and later announced his campaign would transfer US$18 million to the Democratic National Committee.
While Biden has kept up with Trump with fundraising so far, he is still reportedly behind in funds.
On Friday, the Biden campaign told reporters that combined with the DNC, it had US$103 million on hand until the end of April. Trump has a significant cash advantage, with his campaign and the Republican National Committee having US$255 million in reserves combined.
According to CNN/SSRS polls released earlier this week, Biden has a five-point lead over Trump. However, Trump has an advantage in critical battleground states that could decide the electoral college. In 2016, Trump won by relatively small margins in key states to win the Electoral College while losing the popular vote.
However, Biden’s campaign is betting that as many as 16 states, including Arizona Texas and Georgia, could be up for grabs for the upcoming November election due to Trump’s management of the coronavirus outbreak. “There will be battleground states that have never been battleground states before,” said Biden’s campaign manager, Jen O’Malley Dillon.
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