President Biden’s re-election campaign is off to a strong start, with a record-breaking $53 million raised in February alongside the Democratic Party. This influx of cash is expected to give Democrats a significant advantage in the upcoming general-election contest against former President Donald J. Trump.
With a total of $155 million in cash on hand, President Biden and the Democrats have built a substantial fundraising lead over Mr. Trump and the Republican National Committee. The Trump campaign, while not yet releasing its February fundraising figures, has also seen a surge in support from small donors.
“The fact that we have $155 million in cash on hand is just a huge competitive advantage,” said Jeffrey Katzenberg, a co-chair of the Biden campaign. This funding will be focused on key battleground states that will determine the outcome of the election.
While President Biden is out-raising Mr. Trump in this cycle, the $53 million raised in February falls short of the $86 million that Mr. Trump collected in February 2020 as an incumbent president seeking re-election. However, the Biden campaign has been investing heavily in advertising campaigns, staff hires, and campaign events to maintain momentum.
In the coming weeks, the Biden campaign plans to ramp up fundraising efforts with high-profile events featuring former Presidents Bill Clinton and Barack Obama, as well as Hillary Clinton and Lin-Manuel Miranda. These events are expected to draw significant attention and further boost the campaign’s financial resources.
Both campaigns are set to disclose more details of their finances on March 20, providing a clearer picture of their fundraising efforts leading up to the election. With strong support from small donors and a strategic focus on key states, President Biden’s re-election campaign is well-positioned for the road ahead.
