The Trump campaign and the Republican National Committee announced on Wednesday that they raised a combined $65.6 million in March and had $93.1 million in cash on hand as of April. This marks an improvement from the previous month, with Trump and the RNC having a higher cash on hand total compared to February. The total raised in March exceeded the amount raised during the same period in the last presidential campaign and reflects a strong fundraising effort despite the disruptions caused by the Covid-19 pandemic that began during that time.
However, Trump and the RNC still face a significant gap in funding compared to the Biden campaign and the Democratic National Committee. In February, Biden and the Democrats reported having over $155 million in cash on hand, and their totals for March have not yet been announced. Full details on fundraising and spending by Trump’s network, the RNC, and other federal candidates and committees will be released later this month when FEC reports are due, providing a clearer picture of the financial landscape leading up to the election.
Despite the strong fundraising efforts, Trump’s ongoing legal troubles have put a strain on his resources, contributing to Biden’s financial edge. Trump’s leadership PAC, Save America, has spent over $72.5 million on legal expenses since January 2021, with the majority going towards Trump and his allies. The expenses are expected to increase as trial dates approach, highlighting the financial challenges faced by Trump’s campaign.
A new joint fundraising agreement between Trump, the RNC, and state parties has raised concerns about donor money being used to cover Trump’s legal expenses. The agreement first directs funds to Trump’s campaign committee and then to Save America before the national party receives its share, potentially diverting donations towards legal costs rather than campaign activities. Despite these challenges, Trump has continued to court big donors at his Mar-a-Lago club and is set to host a high-priced fundraiser in Palm Beach, Florida, where attendees will pay up to $814,600 per person.
The Trump campaign aims to raise $33 million at the upcoming fundraiser and surpass the more than $26 million raised by President Biden at a recent event in New York. The event benefits the Trump 47 Committee, a joint fundraising operation established by Trump, the RNC, and state party committees. By engaging in high-profile fundraising events and leveraging his connections to wealthy donors, Trump seeks to bolster his financial position and close the gap with the Biden campaign as the election approaches. Additionally, ongoing updates and background information on the fundraising efforts and financial standings of both campaigns will continue to shape the narrative leading up to the election.
