Fundraising Update: Trump Campaign’s Financial Standing Compared to Biden

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Fundraising Update

Former President Donald J. Trump’s presidential campaign committee closed March with $45 million on hand, according to federal filings released on Saturday. The campaign aims to narrow the fundraising gap with President Biden.

Spending Strategy

In an effort to build a strong campaign war chest for the general election, Trump’s campaign significantly reduced its spending in March, totaling just $3.7 million compared to $11.4 million in January. This contrasts with the $29.2 million spent by Biden’s campaign during the same period.

Campaign Finances

President Biden’s campaign reported $85.5 million on hand at the end of March, marking a notable increase from the previous month. In comparison, Trump’s campaign had less than half of Biden’s amount in February. Both candidates have been actively fundraising to secure financial support for their campaigns.

As Trump and Republicans work to bridge the financial gap with Democrats, Biden has also made progress in narrowing the polling difference between himself and Trump. Recent polls show the gap has decreased from five percentage points to a virtual tie.

Both candidates recently held successful fund-raising events, with Trump’s campaign and the Republican National Committee bringing in over $50.5 million from a dinner at the home of billionaire John Paulson in Palm Beach, Fla. This substantial financial support will be reflected in future filings.

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