Biden, Dems increase fundraising edge with $53M haul

President Joe Biden’s reelection campaign said Sunday it had raised more than $53 million in February together with the Democratic Party, an influx of cash that is expected to widen the Democrats’ cash advantage in a general-election contest against former President Donald Trump.

Biden, the Democratic Party and their shared accounts now have $155 million cash on hand — up from $130 million at the end of January, his campaign said.

The campaign credited strong support from small-dollar donors for its February fundraising.

So far in the race, Biden and the Democrats have built a substantial fundraising advantage over Trump and the Republican National Committee, which reported around $40 million in cash on hand between them at the end of January. The Trump campaign has not released its February fundraising figures but has said it also had its strongest month among small donors — topping the $22.3 million raised in August. Trump and the RNC formed a formal joint fundraising account only this month.

“The fact that we have $155 million in cash on hand — which is 100% going to building out the campaign and focused on the six or seven states that are going to determine the outcome of this election — is just a huge competitive advantage,” Jeffrey Katzenberg, a co-chairman of the Biden campaign, said in an interview.

Trump has been schmoozing with donors at Mar-a-Lago, his private club and residence in Palm Beach, Fla., trying to lessen the financial disparity he faces against Biden. The former president is also confronting the financial pressure of his legal bills, which are being paid by one of his political action committees.

Both campaigns must disclose details of their finances Wednesday, with a more complete picture due April 15.