Fundraising Plummets for Pro-Biden Dark Money Group Amid Message Flop & Strategic Pivot

Axios: A pro-Biden dark money group is slowing down

Building Back Together — the dark money group tasked by the White House to tout President Biden’s agenda — stalled out last year, raising and spending a fraction of the amount it did in 2021, according to tax filings. 

Since Biden announced his re-election campaign in April, BBT has only announced two ad buys, both relatively small. 

By the numbers: In 2022, BBT raised $8 million, compared to $41 million in 2021, according to its 990 tax forms. 

Last year, it spent a total of $15 million, compared to $33 million in 2021.

BBT ended 2022 with just $1.1 million in assets.

“With messaging on the President’s agenda so clearly failing, it’s not surprising to see the fundraising for Building Back Together plummet,” said Caitlin Sutherland, Executive Director, Americans for Public Trust, a conservative group. 

Zoom out: BBT — a 501(c)(4) — was created in the early weeks of Biden’s presidency to promote his policies and defend him from GOP attacks. 

It was blessed by Anita Dunn, a close Biden confidant, and worked closely with senior Democratic strategists and veterans of the Obama White House, like Stephanie Cutter.

Between the lines: Going into 2024, Team Biden — and Democratic donors — are sending their money toward Super PACs and the DNC that are directly focused on the president’s reelection.

The Biden campaign, the DNC, and the White House-blessed outside group Future Forward have spent over $50 million on TV and digital ads so far this year.

Click here to read the full report in Axios.