President Joe Biden embarked on a three-day fundraising trip in California on Friday, with hopes of generating a record-breaking amount of cash for his 2024 re-election campaign. However, the trip coincided with the Department of Justice filing new criminal charges against his son, Hunter Biden, accusing him of tax evasion and extravagant spending. Despite this setback, California, known for its deep-pocketed entertainment industry, has traditionally been a significant source of funding for Democrats. The recent end of actors and screenwriters strikes has unleashed a flood of pent-up donations. Jeffrey Katzenberg, a prominent movie mogul and campaign co-chair for Biden, expressed confidence in the success of the trip, stating that it would be the most fruitful fundraising period in the campaign's history.

The President's itinerary includes two Los Angeles fundraisers attended by Hollywood heavyweights such as directors Steven Spielberg and Rob Reiner, as well as musicians Barbra Streisand and Lenny Kravitz. This California swing is just a part of Biden's broader fundraising blitz, which will encompass at least nine events before the month ends. Sources familiar with the gatherings estimate that the fundraisers in California, along with those already held in Boston, will raise a minimum of $15 million. However, Katzenberg noted that the final amount remains fluid, but assured that it would be substantial.

Before reaching Los Angeles, Biden will make a brief stop in Las Vegas to announce $8.2 billion in funding allocated to ten new passenger rail projects. This funding, provided by the recently passed $1 trillion infrastructure law, includes $3 billion for the nation's first high-speed rail line, which will traverse California. Additionally, Biden will announce a $3 billion investment to facilitate the creation of another high-speed rail corridor linking Las Vegas and South Carolina. The senior administration official further revealed that funding would also be allocated for rail projects in North Carolina, Virginia, and Washington D.C.

Over the past year, Biden has undertaken a national tour to announce new funding initiatives tied to his key legislative achievements, including the infrastructure law, the Chips and Science Act, and the Inflation Reduction Act. These efforts aim to bolster the President's approval ratings and persuade voters that he is the right leader to navigate the U.S. economy. However, recent public opinion polls indicate limited success in these endeavors. Nevertheless, with the star-studded fundraisers and the announcement of significant infrastructure investments, Biden hopes to garner substantial support and reclaim public confidence in his administration.