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Joe Biden's 2020 presidential campaign and the Democratic National Committee signed Friday onto a joint fundraising pact, AP reports.

Why it matters: The measure allows individual donors to contribute up to $360,600 — a huge jump from the $5,600 maximum that an individual can donate to his campaign.

  • Democrats have been behind Republicans in terms of fundraising throughout the 2020 cycle due to a lengthy primary process — and the GOP and President Trump's campaign have as much as five times more cash on hand.

What they're saying: "Our goal is to ensure that we put Joe Biden in the best position possible to beat Donald Trump, and this joint fundraising agreement allows us to do just that," said the DNC's new CEO Mary Beth Cahill.

  • "The DNC has built an organization that has proven it can win up and down the ballot, and that is exactly what we will do in November," she added.

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House committee subpoenas Pompeo for records on Biden investigations

Photo: Greg Nash-Pool/Getty Images

Rep. Eliot Engel (D-N.Y.), the chairman of the House Foreign Affairs Committee, on Friday subpoenaed Secretary of State Mike Pompeo for records related to the State Department's involvement in attempts to link former Vice President Joe Biden to corruption in Ukraine.

Why it matters: Engel alleges that Pompeo has turned over similar documents to Senate Republicans but not House Democrats and claims that he "has turned the State Department into an arm of the Trump campaign" by using its resources to attempt to investigate Biden.

Updated 2 mins ago - Health

World coronavirus updates

Data: The Center for Systems Science and Engineering at Johns Hopkins; Map: Axios Visuals

France reported more than 2,500 new COVID-19 cases in 24 hours — the largest single-day number since May. French officials said the situation was "clearly worsening," per France 24.

By the numbers: Over 745,600 people have died of the novel coronavirus globally and over 20.4 million have tested positive, per Johns Hopkins. Almost 12.7 million have recovered from the virus.

Biden campaign raises $26 million in 24 hours after announcing Harris as running mate

Joe Biden and Kamala Harris. Photo: Olivier Douliery/AFP via Getty Images

Joe Biden's campaign announced on Wednesday that it raised $26 million in the 24 hours after revealing Sen. Kamala Harris as his vice presidential pick.

Why it matters: The cash influx signals that Harris has helped the Democratic presidential campaign pick up steam. Nearly 150,000 contributors were first-time donors, according to the campaign statement.