President Joe Biden's campaign has reported a significant financial advantage over his Republican opponent, Donald Trump, for the upcoming 2024 election. With a staggering $155 million in cash on hand, Biden's campaign is well-positioned for the upcoming race.
Last month alone, the campaign raised $53 million, marking the strongest grassroots fundraising month since its inception. Noteworthy efforts included a fundraiser in New York on March 28, attended by Biden, Barack Obama, and Bill Clinton, which generated $4 million in donations.
In a recent radio interview, President Biden expressed optimism about the campaign's momentum, citing the real enthusiasm observed during his travels across the country. The campaign boasts 1.5 million donors, with 500,000 being new contributors, predominantly small donors. An impressive 97% of donations were under $200.
Both Biden and Trump secured their party nominations last week, setting the stage for a highly anticipated 2024 rematch. While Biden's financial figures reflect a robust fundraising effort, Trump's February numbers have yet to be disclosed. As of January, Trump's major committees had $36.6 million in cash on hand, with expenditures surpassing revenues, partly due to substantial legal fees incurred from various court cases.
Biden's cash on hand total represents a historic milestone for Democratic candidates at this stage of the campaign. The campaign attributes its success to targeted email campaigns that highlighted concerns over Trump, resonating with supporters and driving up donations.
Jaime Harrison, leader of the Democratic National Committee, emphasized the critical nature of the upcoming election, noting the grassroots support as a testament to the high stakes involved. Harrison contrasted the financial stability of the Democratic campaign with what he described as financial disarray within the Trump camp.
