President Biden’s campaign continues to dominate in fundraising, pulling in over $90 million in March alongside the Democratic Party and affiliated committees. This brings their total cash on hand to $192 million, more than double what former President Donald J. Trump reported in his coffers. With 1.6 million Americans donating to the campaign, Biden’s team boasts a broad base of financial support.
Rufus Gifford, the Biden campaign’s finance chair, emphasized the significance of these contributions, stating, “These are real investments that real Americans are making into this campaign.” Despite trailing in polls, Gifford highlighted the campaign’s fundraising strength as a more reliable indicator of success.
The President’s impressive fundraising numbers were bolstered by a $26 million haul from a star-studded fundraiser at Radio City Music Hall, featuring former Presidents Barack Obama and Bill Clinton. Additionally, $10 million was raised in the 24 hours following Biden’s State of the Union address on March 7.
In response to Biden’s fundraising prowess, Trump has ramped up his own efforts, hosting high-dollar donors at his Mar-a-Lago club in Florida. The Trump campaign reported raising $65.6 million in March, their best fundraising month to date. Despite this, Biden’s substantial lead in fundraising may pose a challenge for Trump moving forward.
While having the most money does not guarantee victory, Biden’s campaign remains confident in their momentum. Co-chair Jeffrey Katzenberg expressed optimism, calling the fundraising outcomes “spectacular” and a vote of confidence for the President and Vice President.
As Trump transitions to joint fundraising accounts with the Republican National Committee, allowing for larger donations, his campaign’s cash on hand has doubled to $93.1 million. However, this still falls short of Biden and the Democrats’ financial advantage.
As the 2024 election season heats up, both candidates are gearing up for a fierce fundraising battle, with Trump’s team planning a major fundraiser in Palm Beach to rival Biden’s recent successes. The race for financial support is on, and the outcome remains uncertain as both campaigns vie for the resources needed to secure victory.
