The upcoming 2024 election is anticipated to draw significant attention in American history. The anticipated rematch between President Joe Biden and former President Donald Trump has captivated audiences. Recent fundraising data indicates that Democrats are vigorously channeling their resources into surpassing the Republican contender.
Biden’s campaign disclosed on March 17 that it had garnered more than $53 million in February through collaborative fundraising efforts with the Democratic Party. By the conclusion of January, the president and the party collectively held $130 million in their account, which has since surged to $155 million.
The campaign asserted that the funds were primarily sourced from small-dollar donations, with nearly half a million individuals contributing to the president’s reelection fund. Analysts interpret this as indicative of substantial grassroots backing, despite Biden’s unfavorable polling numbers.
Utilizing its financial resources, Biden’s campaign is expanding its presence by establishing over 100 campaign offices nationwide. Additionally, campaign staff have initiated a significant $30 million advertising campaign in pivotal states like Michigan, Pennsylvania, and Wisconsin.
Trump is conducting campaign rallies nationwide, yet simultaneously engaging in legal battles across various fronts. Although the Trump campaign has not disclosed its recent fundraising figures, the Republican National Committee reported holding roughly $40 million in cash reserves by the end of January.
This falls significantly short of the party’s desired financial position as it enters a highly competitive campaign season. The relatively modest fundraising figures also contributed to the resignation of former RNC Chair Ronna Romney McDaniel. On a positive note for the Trump campaign, the general election has only just begun. There is ample time for fundraising efforts to ramp up before the critical period following the RNC Convention this summer.
