President Biden’s re-election campaign held a substantial financial advantage over former President Donald Trump’s campaign at the end of February, according to federal filings released Wednesday. Biden’s campaign had $71 million cash on hand, more than double Trump’s $33.5 million war chest.
The filings revealed the growing fundraising gap between Democrats and Republicans in the 2024 presidential race. While Trump added over $3 million to his campaign coffers in February, building on his $30 million January total, Biden’s campaign raised $15 million that month on top of its previous $56 million.
Despite Trump leading Biden in most national polls, the incumbent president and Democratic Party have amassed a widening cash advantage – an issue Trump has aimed to address by courting Republican megadonors at private events like those held at his Mar-a-Lago resort.
However, the full financial picture remains incomplete until mid-April when joint fundraising committees for both candidates file reports detailing transfers to their respective campaigns.
Over the weekend, Biden’s re-election bid reported raising a combined $53 million in February across its committees for a total of $155 million cash on hand, up from $130 million at January’s end. Biden has been fundraising with the Democratic National Committee for months to build out general election operations.
Trump’s campaign told Fox News it raised $20.3 million combined with a joint committee in February for $42 million total cash available between the two groups.
The Republican National Committee itself raised $10.7 million and had $11.3 million on hand after Trump opted to overhaul its leadership upon becoming the presumptive GOP nominee in March.
Trump’s multiple legal battles have drained resources, with committees backing him spending at least $50 million on legal fees last year alone. A pro-Trump super PAC raised $12.8 million in February with $25.5 million remaining.
