Democratic money jitters ease after big second quarter haul

WASHINGTON — Some big fundraising hauls by Democrats have eased worries that lackluster totals last quarter were a sign the party would struggle to stockpile cash for the general election fight with President Donald Trump.

All campaigns have to report their second quarter fundraising totals to the Federal Election Commission by the end of Monday. But early glimpses offered by a handful of contenders show they collectively raised about $100 million, nearing the $105 million raised by Trump and the Republican National Committee.

Pete Buttigieg led the second quarter field of Democratic White House hopefuls with $24.8 million, a jaw-dropping sum to be raised by a candidate who entered the race months ago as the little-known mayor of South Bend, Indiana. He was followed by former Vice President Joe Biden, who raised $21.5 million. Massachusetts Sen. Elizabeth Warren rebounded from a mediocre first quarter and came in third with $19.1 million. Vermont Sen. Bernie Sanders posted $18 million, while California Sen. Kamala Harris reported raising about $12 million.

But the news wasn’t good for all the campaigns. Some candidates took in less than they did last quarter or were essentially treading water. It’s the latest sign that two distinct tiers are emerging in the primary: one that will have ample resources to build a national operation and get its message out and another forced to make difficult financial decisions and triage limited cash.

“Top-tier candidates will need to pull in eight-figure quarters to stay competitive and run effective campaigns on a national scale,” said Dennis Cheng, who was the finance director for Hillary Clinton’s 2016 campaign. “The second quarter was about raising the bar and exceeding expectations.”

The Democratic National Committee has increased the thresholds to reach the fall debate stage, leaving a wide swath of the field scrambling to qualify. To secure a slot on the stage, candidates have to reach 2% in a handful of polls while racking up contributions from at least 130,000 donors in at least 20 states.