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FEC: Biden Outraises Trump by Millions

State of the Union: In the leadup to the November election, fundraising will become critical to the success of the GOP’s presumptive nominee.

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President Biden’s reelection campaign has thus far raised more money than that of the former President Donald Trump according to the Federal Election Commission (FEC). This news comes as the former president’s legal bills continue to skyrocket.

In February 2024, the Biden campaign raised $21.3 million and spent $6.3 million over the same period of time. Since Biden announced his bid for reelection in April 2023, he has raised a total of $114.7 million and spent around $45.1 million. He also reportedly has $71 million cash on hand to spend on campaigning in the leadup to November’s election.

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On the other hand, the Trump campaign has raised $10.9 million, just half as much, and spent $7 million in February alone. Since launching his third presidential campaign in November of 2022, Trump has reportedly raised about $99.4 million and spent $66 million, leaving just $33.3 million in cash on hand.

Trump also has expenses his adversary does not have to contend with: legal fees. The former president is currently facing 88 criminal charges across four different criminal cases (New York hush money, federal election interference, Georgia election interference, and the classified-documents case) in addition to two civil proceedings. Although the cases have yet to go to trial, Trump has already been ordered to pay exorbitant sums for the civil proceedings.

Trump has turned to the “Save America PAC” for help with covering these legal expenses. The FEC reported that the PAC spent about $5.6 million in legal fees in February 2024, which was more than what it raised during that month.

Another super PAC backing the former president, “Make America Great Again Inc.,” reported $25.5 million at the end of February, which is a notable jump from their $19.7 million in January.

The relatively recent departure of Trump’s GOP competitor, Nikki Haley, might improve fundraising numbers for the Trump campaign. Since Haley’s departure from the race following her decisive Super Tuesday loss, the Trump campaign and joint fundraising committees have seen an increase of money from January ($14 million) to February ($20.3 million).

Additionally, the Republican National Committee (RNC), now led by Michael Whatley and Trump’s daughter-in-law Lara Trump, has made raising money for the Trump campaign a top priority over the next few months.

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