Biden's Reelection Campaign Raises Record $90 Million in March, Trump's Legal Fees Matched

President Biden's Campaign Shatters Fundraising Records

In an unprecedented show of financial support, President Biden's reelection campaign announced raising over $90 million in March, surpassing the $66 million raised by former President Donald Trump and his allies.

Biden's Cash-On-Hand Advantage

The President's cash-on-hand advantage over Trump also saw a substantial increase, with the Biden campaign starting April with a staggering $192 million in its coffers. This amount marks the highest ever amassed by any Democratic candidate in history.

Trump's Cash Shortage

On the other hand, Trump's campaign and the Republican National Committee ended March with just over $93 million cash on hand, leaving them trailing behind with a $100 million deficit compared to Biden and the Democratic National Committee.

Financial Burden of Legal Fees

A press release from the Biden campaign highlighted that the gap in funds was equivalent to the cost of Trump's legal bills since leaving office, portraying a sharp contrast to Trump's financially strained operation.

Unprecedented March Fundraising

President Biden's $90 million in March easily surpassed the fundraising numbers posted by past Democratic nominees in the same month. This achievement comes as the Biden campaign significantly ramped up its operation, with presidential visits to every battleground state after the State of the Union address.

Advertising and Expenditure

Not only did the campaign add over 100 field offices, but it also announced a $30 million ad buy spread across six weeks. The Biden campaign, along with its joint fundraising committee and allied groups, has made significant ad expenditures, having spent over $16 million on ads since Super Tuesday's primary elections on March 5. Furthermore, they have $132 million reserved in ads through Election Day.

Discrepancy in Ad Spending

According to advertisement tracking firm AdImpact, during the same timeframe, only $3 million has been spent by Trump's campaign and his allies since Super Tuesday.

Trump's Fundraising Efforts

Mr. Trump's fundraising efforts were showcased during a Florida fundraiser where wealthy GOP donors aimed to raise over $43 million. Contributions from this event will also be directed into a political action committee handling most of Mr. Trump's legal bills. Additionally, during a call with bundlers, Trump claimed he would "double" the $25 million raised by Mr. Biden's New York City fundraiser during his Saturday gathering.

Financial Landscape and Voter Support

President Biden's strong fundraising advantage comes at a crucial time as he faces a tight rematch with Trump. While some Democrats express concerns about waning support for Mr. Biden from key voting blocs, Democratic strategist Joel Payne emphasizes how the fundraising advantage helps counter any narrative about a lack of enthusiasm on the Democratic side.

First Quarter Fundraising Totals

The first quarter total for Mr. Biden, encompassing money raised from March through January, is an impressive $187 million. The campaign highlights that 96% of these donations were "grassroots," or under $200, and that there were 1.1 million donors who made 1.9 million contributions.

Momentum from Private Fundraisers

Mr. Biden's fundraising efforts were also boosted by private fundraisers in various locations, including a star-studded New York City fundraiser with Obama and former President Bill Clinton, which brought in over $26 million. Furthermore, private fundraisers in Dallas, Houston, and Raleigh contributed to this remarkable financial momentum.

Online Small-Dollar Donations

Although Trump's campaign representatives acknowledge the challenge of matching Mr. Biden and the Democrats in fundraising, they have seen success in online, small-dollar donations in recent weeks.

Expanding Campaign Footprint

The financial advantage enjoyed by President Biden's campaign has led to an expansion beyond traditional battleground states, with staffers now in Florida, Minnesota, and New Hampshire.

Upcoming Financial Disclosure

The specific information regarding both Mr. Biden's and Mr. Trump's first quarter and March committee fundraising and spending will be made public later this month.

Jake Rosen and Fin Gómez contributed reporting.