Former President Donald J. Trump’s campaign committee is ramping up its fundraising efforts as it tries to close the financial gap with President Biden. According to federal filings, Trump’s campaign ended March with $45 million on hand, a significant increase from previous months.
Despite the increase in funds, Trump’s campaign is spending much less than it was at the start of the year. In March, the campaign spent just $3.7 million, compared to $11.4 million in January. This strategic move is aimed at building a campaign war chest for the general election.
On the other hand, President Biden’s campaign had $85.5 million on hand at the end of March, a significant increase from the previous month. Biden’s campaign has also been narrowing the polling gap between himself and Trump, with recent surveys showing a virtual tie between the two candidates.
Both candidates have been capitalizing on high-profile fundraising events to bolster their campaigns. Trump’s recent event in Palm Beach, Fla., brought in over $50.5 million, while Biden raised $26 million at an event in New York.
The candidates are primarily raising money through joint fundraising agreements with their respective parties, allowing them to pull in significant amounts from individual donors. The recent filings with the Federal Election Commission provide insights into the scale of their fundraising efforts and major donors.
As the race heats up, the focus is also shifting to independent candidate Robert F. Kennedy Jr., whose campaign is gaining attention for its fundraising and spending practices. Kennedy’s selection of wealthy Silicon Valley lawyer Nicole Shanahan as his running mate has boosted his fundraising efforts, with a significant contribution coming from Shanahan herself.
With national polls indicating a close race between Trump and Biden, the candidates are ramping up their fundraising efforts and strategic spending to secure victory in the upcoming election.
