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Photo: MANDEL NGAN/AFP via Getty Images

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.

Go deeper

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 hours ago - World

U.S. airstrike kills senior al-Qaeda leader in Syria, DOD says

A displacement camp near the village of Qah in Syria's northwestern Idlib province. Photo: Ahmad Al-Atrash/AFP via Getty Images

A U.S. airstrike in northwest Syria on Friday killed senior al-Qaeda leader Abdul Hamid al-Matar, U.S. Central Command said in a statement.

Why it matters: Syria serves as a "safe haven" for the extremist group to plan external operations, according to U.S. Army Maj. John Rigsbee.

Updated 7 hours ago - Politics & Policy

Giuliani associate Lev Parnas convicted of campaign finance crimes

Lev Parnas, a former associate of then-President Donald Trump’s personal lawyer Rudy Giuliani. Photo: Stefani Reynolds/Bloomberg via Getty Images

Florida businessman Lev Parnas was convicted Friday on charges of conspiracy to make foreign contributions to political campaigns, according to multiple outlets.

Why it matters: Prosecutors said Parnas, then an associate of former President Donald Trump's personal lawyer Rudy Giuliani, funneled over $150,000 from a Russian businessman into U.S. campaigns as part of an effort to land licenses in the U.S.'s legal cannabis industry.