President Joe Biden's reelection campaign and the Democratic Party raised over $90 million in March, marking a significant milestone as the campaign gears up for the general election. The campaign now boasts a war chest of $192 million cash on hand, the highest total ever amassed by a Democratic candidate at this point in the election cycle. This impressive fundraising effort was largely attributed to small-dollar donors, with the campaign touting its strongest grassroots fundraising month since its inception.
In contrast, Donald Trump's campaign and the Republican National Committee reported a combined fundraising haul of $65.6 million in March, with $93.1 million cash on hand. Despite the gap in fundraising numbers, Trump is expected to receive a boost from a high-profile fundraiser in Palm Beach. Biden's fundraising in March nearly doubled what he raised during the same period in 2020.
The success of Biden's fundraising was credited to building relationships with grassroots donors, focusing on long-term engagement rather than one-time contributions. The campaign emphasized the importance of maintaining connections with donors to secure ongoing support.
While Biden faces challenges such as low approval ratings and close races in battleground states, the March fundraising numbers signal strong support from donors. The funds will be crucial for the campaign's efforts in key states and its overall strategy leading up to the election.
Biden's campaign has been actively expanding its organizational capacity, opening new offices and hiring additional team members. A $30 million paid media campaign on digital and television platforms has also been launched to reach a wider audience.
The fundraising success in March reflects donors' commitment to preventing Trump from securing a second term, highlighting the stakes of the upcoming election. Biden's campaign remains optimistic about its fundraising prospects for the rest of the year, with a focus on engaging new donors and mobilizing support as the election draws closer.
