President Biden’s re-election campaign is off to a strong start, having raised over $53 million in February alongside the Democratic Party. This influx of cash is expected to widen the Democrats’ financial advantage in a potential general-election contest against former President Donald J. Trump.
With a total of $155 million in cash on hand, up from $130 million at the end of January, President Biden and the Democratic Party are in a strong position heading into the election season. The campaign attributes its success to the support of small-dollar donors, with contributions from 469,000 different donors in February alone.
In contrast, Mr. Trump and the Republican National Committee reported around $40 million in cash on hand at the end of January. While the Trump campaign has not released its February fundraising figures, it has noted a strong showing among small donors, surpassing the $22.3 million raised last August.
Despite President Biden’s fundraising success, the $53 million raised in February falls short of the $86 million that Mr. Trump collected in February 2020 as an incumbent seeking re-election. However, the Biden campaign has been investing heavily in advertising campaigns in key battleground states and expanding its staff.
Looking ahead, the Biden campaign plans to ramp up its fundraising efforts with high-profile events featuring former Presidents Bill Clinton and Barack Obama, as well as Hillary Clinton and Lin-Manuel Miranda. These events are expected to generate significant attention and cash for the campaign.
Both campaigns are set to disclose more details of their finances on March 20, with a more comprehensive picture due on April 15. As the race heats up, the financial resources of each candidate will play a crucial role in determining the outcome of the election.
