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President Biden’s re-election campaign fund was $71 million. At the end of February, it had more than double former President Donald J. Trump’s $33.5 million in campaign funds. Democrats continue to expand their fundraising advantage over Republicans in presidential elections.
The cash gap was detailed in filings with the Federal Election Commission on Wednesday, when campaigns and some presidential committees were due to submit their February fundraising and spending reports.
Trump inflated his campaign account in February, increasing his cash reserves by more than $3 million since January, when he ended the month with about $30 million on hand. But Biden’s campaign ended January with $56 million in cash on hand, and added another $15 million in February.
Mr. Trump leads Mr. Biden in most national polls, but Mr. Biden and the Democratic Party’s financial advantage is widening, a gap that has left Mr. Trump busy trying to woo some supporters. This has become one of the most pressing issues he faces. Republican bigwigs attended a private dinner at his club and residence, Mar-a-Lago, in Palm Beach, Florida.
Still, the fiscal situation remains incomplete. Mr. Trump and Mr. Biden are raising money through a joint fundraising committee, which will not submit its report until mid-April. These committees transfer funds to campaigns, which are then able to pay salaries and earn advertising time at lower rates guaranteed to candidates.
Over the weekend, Biden’s team reported raising a total of $53 million. In February, committees announced their support for his re-election, raising the total to $155 million, up from $130 million at the end of January. The April report will reveal more details about how and from whom this money was raised.
As an incumbent, Biden has spent months fundraising with the Democratic National Committee. This is a large-scale operation to strengthen the on-the-ground research needed for the general election.
Biden will also receive more than $1 billion in support from outside groups that have pledged to support his candidacy, but the funds are separate from the party accounts filed Wednesday.
Trump’s campaign told Fox News on Wednesday that a joint fundraising committee had raised a total of $20.3 million, with the two organizations having $42 million on hand.
Part of Biden’s advantage lies in the advantages that traditional incumbents have. After Trump was nominated as the Republican nominee in February, he quickly dismantled the Republican National Committee and filled it with his supporters. The committee itself reported raising $10.7 million in February, leaving it with $11.3 million on hand at the end of the month.
Trump’s legal battles are also draining his entire campaign. He is facing four criminal charges along with a civil suit, and his costs are proving to be high. Last year, the committee supporting him spent at least $50 million on legal fees, according to his filings, and that cost is likely to swell with preparations for a potential trial this year.
Make America Great Again, a super PAC supporting Trump, raised $12.8 million in February and reported cash on hand of $25.5 million, up from $19.7 million at the end of January. .
A report filed Wednesday with one of Trump’s committees, a leadership PAC called Save America, showed cash on hand at the end of February at $4 million, down from more than $6 million in January. It is reported that.
The change appears to be due to an increase in Trump’s legal costs. In February, the group spent nearly $5.6 million on bills for lawyers defending him.
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