Biden's Campaign Fundraising Trails Behind Trump
In the 2024 presidential election, President Biden's campaign fundraising lagged behind rival Donald Trump for the first time in April. Trump's total fundraising sharply increased after he ramped up joint actions with the Republican National Committee and held high-profile fundraising events.
Comparison of Fundraising Amounts
Biden's campaign team and the Democratic National Committee raised over $51 million in April, down from $90 million in March, and also less than the $76 million reported by Trump and Republicans. After securing the Republican presidential nomination in March, Trump was able to fundraise jointly with the Republican National Committee, where his daughter-in-law serves as a co-chair.
Trump's Fundraising Activities
Trump's April fundraising activities were boosted by a record-breaking event held at billionaire investor John Paulson's home in Palm Beach, Florida, which raised more than $50.5 million. Trump had previously proposed Paulson for the role of Treasury Secretary. This event provided Trump with much-needed financial support as he faced financial strain due to rising legal fees and expenses. Documents submitted by Trump's "Save America" organization to the Federal Election Commission showed that the organization spent over $3.3 million on legal fees in April. In a statement, Trump's campaign team highlighted that April's fundraising was particularly noteworthy considering he spent nearly nine hours daily over the past four weeks battling Biden's legal challenges in court.
Although Trump stated in March that he couldn't match Biden's total fundraising this year, he still won the 2016 presidential election despite trailing Hillary Clinton in fundraising. Currently, Biden and Trump are neck and neck in national polls, and in key swing states that determine the election outcome, Trump holds a slight advantage. Recent polls indicate that Trump scores higher than Biden among voters on economic issues such as inflation.
