President Biden’s reelection campaign has reported raising over $90 million in March, surpassing the $66 million raised by former President Donald Trump and allies in the same period. Biden’s cash-on-hand advantage over Trump also grew, with the president starting April with $192 million in his coffers, the highest amount ever amassed by a Democratic candidate. In comparison, Trump’s campaign and the Republican National Committee had over $93 million cash on hand at the end of March, leaving Biden and the DNC with a $100 million advantage. The Biden campaign highlighted this gap by pointing out that it matches the legal bills Trump has paid since leaving office.
In March, the Biden campaign significantly increased its operation, with presidential visits to every battleground state following the State of the Union address, the addition of over 100 field offices, and a $30 million ad buy spread across six weeks. They have spent over $16 million on ads since Super Tuesday and have $132 million reserved for ads through Election Day, compared to only $3 million spent by Trump’s campaign and allies in the same timeframe. Biden’s strong fundraising total corresponds with his campaign’s strategic approach to expanding beyond traditional battleground states, with staffers now in Florida, Minnesota, and New Hampshire.
Despite concerns about waning support from key voting blocs, the Biden campaign’s robust fundraising advantage helps counter any narrative about lack of enthusiasm on the Democratic side, according to Democratic strategist Joel Payne. Biden’s first-quarter total of $187 million, with 96% of donations being grassroots and 1.1 million donors making 1.9 million contributions, demonstrates strong grassroots support. Private fundraisers, including a New York City event with Obama and Clinton that raised over $26 million and others in Dallas, Houston, and Raleigh, contributed to Biden’s fundraising success. The campaign was also boosted by donations following the State of the Union address, including $10 million raised in the 24 hours after the speech.
With most national and state polls showing a close race between Biden and Trump, both parties are expected to have ample resources to run competitive campaigns, especially at the presidential level. While the Trump campaign is unlikely to match Biden and the Democrats in fundraising, they have seen success in online small-dollar donations recently. The cash advantage for Biden’s campaign has enabled them to broaden their footprint beyond traditional battleground states, indicating a strategic approach to the race. Specific details about the fundraising and spending for both campaigns in the first quarter and March will be made public later in the month, providing further insight into the financial dynamics of the presidential race.
