President Biden’s reelection campaign has reported raising over $90 million in March, surpassing the $66 million raised by former President Donald Trump and his allies. This fundraising success has resulted in a significant cash advantage for Biden, with his campaign starting April with $192 million in its coffers, the highest amount ever amassed by a Democratic candidate. In contrast, Trump’s campaign and the Republican National Committee ended March with just over $93 million in cash on hand, leaving them with $100 million less than Biden and the DNC.
The Biden campaign’s strong fundraising numbers in March were accompanied by a significant increase in campaign operations, including presidential visits to battleground states, the addition of over 100 field offices, and a $30 million ad buy spread across six weeks. The campaign, along with the Biden Victory Fund and other allied groups, has spent over $16 million on ads since Super Tuesday and has $132 million reserved for ads through Election Day. In comparison, Trump’s campaign and allies have only spent $3 million on ads in the same timeframe. Biden’s campaign is utilizing its financial resources to run a competitive race and counter any narrative about a lack of enthusiasm among Democrats.
As Biden continues to face a tight rematch with Trump, his strong fundraising advantage is seen as a counter to concerns about waning support from key voting blocs. The first quarter total for Biden’s campaign is $187 million, with 96% of donations being grassroots contributions of under $200. Biden has also participated in private fundraisers, including a star-studded event in New York City with Obama and Clinton that brought in over $26 million. His fundraising has been further boosted by events following his State of the Union address, where he raised over $10 million in the 24 hours after the speech.
The cash advantage has allowed Biden’s campaign to expand its footprint beyond traditional battleground states, with staffers in Florida, Minnesota, and New Hampshire. While specific information about fundraising and spending for both Biden and Trump will be made public later, Biden’s campaign is showcasing its financial strength and ability to effectively manage resources. Trump’s campaign, while unlikely to match Biden’s fundraising totals, has seen success in online, small-dollar donations in recent weeks. Overall, both Democrats and Republicans are expected to have ample resources for a competitive race at the presidential level.
