President Biden’s campaign announced that they raised over $90 million in March, along with the Democratic Party and affiliated committees, further solidifying his financial advantage over former President Donald J. Trump. The total amount of funds available to Mr. Biden, the party, and their shared accounts now sits at $192 million as they enter April. This amount is more than double what Mr. Trump reported having in his coffers. Since the beginning of his re-election campaign, 1.6 million Americans have contributed financially to Mr. Biden, showcasing a wide base of support.
Rufus Gifford, the Biden campaign’s finance chair, emphasized that these contributions are real investments from ordinary Americans into the campaign. He stressed the significance of the campaign’s fundraising strength over polls that consistently show Mr. Biden trailing Mr. Trump.
Mr. Biden’s fundraising success in March was boosted by a $26 million fundraiser at Radio City Music Hall in New York City, featuring former Presidents Barack Obama and Bill Clinton. Additionally, he raised $10 million in the 24 hours following his State of the Union address on March 7.
On the other hand, Mr. Trump has also ramped up his fundraising efforts, hosting wealthy donors at his Mar-a-Lago club in Palm Beach, Florida. His campaign, along with the Republican National Committee, raised $65.6 million in March, marking Mr. Trump’s best fundraising month thus far. The Trump campaign plans to surpass Mr. Biden’s fundraiser with a significant event of their own in Palm Beach.
Despite Mr. Trump’s efforts, Mr. Biden’s substantial fundraising in March is seen as a positive sign for his campaign’s momentum. Co-chair of the Biden campaign, Jeffrey Katzenberg, expressed confidence in the outcomes of the fundraising efforts, highlighting them as a vote of confidence for the president and vice president.
While having the most money does not guarantee victory, Mr. Trump’s joint fundraising efforts with the R.N.C. in March have significantly increased the available cash on hand for his campaign. However, the combined funds of Mr. Trump, the R.N.C., and their shared accounts still fall short of the amount held by Mr. Biden and the Democrats.
March marked the beginning of joint fundraising efforts for Mr. Trump and the R.N.C., allowing them to accept larger donations than during the primary. Their combined available cash on hand going into April now stands at $93.1 million.
Reported by Shane Goldmacher and Reid J. Epstein.
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