President Donald Trump has raised $36 million since he announced his 2020 reelection campaign a week ago. From CNBC:

Trump’s seven-day haul is double the entire first-quarter fundraising total for Sen. Bernie Sanders of Vermont , whose $18 million led the field of two dozen Democratic presidential hopefuls.

At a donor event on Tuesday at the Trump International Hotel in Washington, the president raised $6 million with 225 people in attendance in support of his joint fundraising committee, according to Republican officials with direct knowledge of the matter.

The committee, called Trump Victory, distributes donations between the Trump campaign and the Republican National Committee.

Trump’s total for Tuesday’s event was barely short of the $6.3 million that former Vice President Joe Biden raised in his first day of campaigning for the Democratic presidential nomination.

The RNC Chairwoman claimed that Trump brought in $24.8 million in the first 24 hours.

Since the Democrat Party has over 20 candidate hopefuls, Trump’s campaign and the RNC hope they will have a financial advantage by the time the Democrats pick a candidate:

“This time next year, we hope to have a huge advantage of money on hand as the Democrats will just be selecting a nominee and will have spent all of their cash to win the nomination,” said Roy Bailey, a national finance co-chairman for Trump’s reelection.

Bailey also said the campaign is “off to a booming strong start” and will be able to sustain the momentum through Election Day 2020.

Trump already has $40 million in his war chest. The RNC continues to crush the DNC in fundraising as it has $37 million.

In order to catch up to the Republicans, the Democrats may have to ask big donors for money. The party traditionally has stayed away from those, sticking with small-dollar donors. It helped elevate Sen. Bernie Sanders (I-VT) in 2016.

 
 
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