Biden Widens His Financial Lead Over Trump
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New federal filings on Wednesday showed the president’s campaign with a nearly $40 million advantage over the Trump campaign at the end of last month.
President Biden’s re-election campaign had $71 million on hand at the end of February, more than double the $33.5 million in former President Donald J. Trump’s campaign account, as Democrats continued to expand their fund-raising advantage over Republicans in the presidential race.
The cash disparity was detailed in filings with the Federal Election Commission on Wednesday, when campaigns and some presidential committees had a deadline to file fund-raising and spending reports for February.
Money raised and spent by the campaigns (in millions)
This cycle began with the announcement of former President Donald J. Trump’s campaign in November 2022 and President Biden’s in April 2023.
| Raised | $21.3 | $114.7 | $10.9 | $99.4 |
|---|---|---|---|---|
| Spent | $6.3 | $45.1 | $7 | $66 |
| Net cash | $71 | — | $33.3 | — |
Mr. Trump did pad his campaign’s account in February, adding more than $3 million to the cash on hand since January, when he ended the month with about $30 million on hand. But Mr. Biden’s campaign, which ended January with $56 million on hand, added $15 million in February.
While Mr. Trump is leading Mr. Biden in most national polls, Mr. Biden and the Democratic Party have a growing cash advantage — a gap that has become one of the most pressing issues facing Mr. Trump, who has been busy wooing some of the Republican Party’s biggest financiers at private dinners at Mar-a-Lago, his club and residence in Palm Beach, Fla.
Still, the financial picture remains incomplete: Both Mr. Trump and Mr. Biden are raising money through joint fund-raising committees, which will not file reports until mid-April. These committees transfer funds to the campaigns, which are better able to pay salaries and to buy advertising time at the lower rates guaranteed to candidates.
Biden and Trump campaigns compared to 2020
By the end of the 2020 cycle Biden had raised and spent more than $1 billion and Trump more than $700 million dollars.
