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Joe Biden raises $15.2 million, lagging behind his presidential rivals

Yang raises $10 million in 3rd quarter

Joe Biden's campaign announced Thursday that it raked in $15.2 million during the third quarter of 2019, down from his $22 million raised during the second quarter of the year. Since the former vice president's campaign launched, it's raised $36.7 million, putting him behind several fellow Democratic hopefuls in the race for the White House.

According to his campaign, 98% of the funds came from grassroots donors who gave $200 or less. The average donation was $44. The campaign also pointed out that 56% of donors were new to the campaign and 70% of the donors were individuals not previously known to the campaign when it launched.

"Today's fundraising totals put the campaign in a strong position as we enter the fall. The question any campaign faces at this point is whether or not you have the resources to compete in early states and sustain your efforts beyond," said campaign manager Greg Schultz in a statement. "Our campaign unequivocally does and builds on our strength each week."

While the campaign is touting its position heading into the end of the year, Bernie Sanders outraised Biden this quarter by more than $10 million dollars. The Vermont senator announced Tuesday his campaign brought in $25.3 million in the third quarter despite swearing off any big-dollar fundraisers, showing his strong grassroots support in a still crowded race. Biden was also outraised by South Bend Mayor Pete Buttigieg, who raked in $19.1 million from July to September.

In the final days of the quarter, Biden went on a fundraising blitz across the United States including stops in Los Angeles, Las Vegas, Park City, Utah and Denver, Colorado. He also attended events in New York City, Chicago, Washington, D.C., the Hamptons and Cape Cod, among others this fundraising period.

The summer months are typically a more challenging time to raise money for any candidate. Biden pointed that out at a fundraising event Thursday in Palo Alto, California, where he reportedly revealed his cash haul for the period saying it was raised "in the middle of summer."

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Meanwhile, President Trump's campaign manager revealed Tuesday it along with the Republican National Committee raised a combined $125 million in the third quarter of the year and now have $156 million cash on hand.

Biden's team did not say how much cash on hand the former vice president had at the end of September, but it did announce earlier Thursday a $6 million ad buy on television and digital platforms in all four early states.

It comes as fellow democratic presidential hopeful Elizabeth Warren has been making gains on the democratic presidential frontrunner in several recent polls. On Wednesday, the latest Monmouth University poll put her at 28% to Biden's 25%. Warren's campaign has not yet announced its fundraising totals for the quarter. 

Biden's fundraising announcement also comes as he is facing escalating questions over his son Hunter Biden's business dealings abroad while he served as vice president. President Trump has publicly accused Biden of corruption and called for investigations without citing any evidence of wrongdoing by the former vice president. 

Several Biden donors CBS News spoke with have dismissed Mr. Trump's efforts as a smear campaign, but the controversy is expected to follow the vice president even as Mr. Trump faces impeachment proceedings. 

According to the Trump campaign, talk of impeachment has further fueled donations to the president's reelection efforts. All presidential candidates are required to file their fundraising totals with the Federal Election Committee by October 15.

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