May 11, 2024 - Politics & Policy

Biden's early fundraising edge over Trump

The bar chart shows that as of March 31, 2024, Biden's campaign and the DNC had nearly doubled with cash on hand amounting to $130.8 million, compared to Trump's campaign and the RNC, which was $66.7 million.
Data: FEC; Chart: Axios Visuals

While Donald Trump is on trial in New York and his team is restructuring the Republican National Committee, President Biden's team is aggressively campaigning and advertising — a reflection of Biden's early fundraising advantage.

Why it matters: Democrats have long had an edge in fundraising. But Trump super PACs and outside groups are helping to even the playing field — even as the ex-president's legal fees eat into his funds.

  • At the end of March, Biden's campaign and the Democratic National Committee had nearly double the cash on hand that Trump and the RNC had.
  • Even when adding in Trump's main super PAC — MAGA Inc. — the Biden campaign and the DNC still had more cash.

Zoom out: But overall, outside groups supporting Trump are helping him close the gap. They've raised nearly $192 million this cycle as of the last filing in April, according to the 10 groups tracked by OpenSecrets.

  • Seven similar groups backing Biden raised less than $87 million over the same period.
  • The numbers don't include every outside group, action fund or victory fund that may bolster either candidate.
Go deeper