Jan 31, 2024 - Politics & Policy

80% of Dean Phillips’ Q4 presidential fundraising was from his own wallet

Democratic challenger U.S. Rep. Dean Phillips speaks to supporters during a campaign rally on January 22, 2024 in Manchester, New Hampshire.

Rep. Dean Phillips speaks to supporters during a campaign rally on Jan. 22 in Manchester, New Hampshire. Photo: Brandon Bell/Getty Images

Rep. Dean Phillips gave his campaign a $4 million loan during the fourth quarter of 2023, while he pulled in about $1 million from other donors, his public filing with the Federal Election Commission shows.

Why it matters: Phillips earlier this month called his long-shot presidential campaign the most "important philanthropic pursuit of [his] life" and said he will do "what it takes" to sustain his campaign.

  • Phillips, one of the wealthiest members of Congress, told reporters in New Hampshire earlier this month that he'd donated $5 million so far.

By the numbers: Phillips spent about $4.6 million during the fourth quarter, according to the filing, which does not include data on January receipts and disbursements.

  • He ended December with $3.6 million in cash on hand.
  • Of the roughly $1 million that Phillips raised from outside donors, about $225,900 came from unitemized contributions less than $200, while $790,000 came from itemized contributions over $200.

Zoom out: Phillips launched his 2024 presidential campaign in late October, after he repeatedly cast doubt over President Biden's age and concerns over polling that showed most Democratic voters wanted an alternative.

  • After he finished second in New Hampshire, Phillips said that he would not drop out of race until he has "enough" name recognition to appear in a head-to-head poll with former President Trump.
  • "If somehow Joe Biden miraculously improves and he is in position to actually win this thing and I'm not, of course I'm going to fold it and get behind him," he said.

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