The Trump campaign, alongside the Republican National Committee (RNC), disclosed a noteworthy financial achievement, announcing a combined fundraising total of $65.6 million for March. This surge in funds positions Trump and the RNC more robustly with $93.1 million in cash reserves at the start of April. Notably, this figure surpasses the previous month’s total of approximately $41.9 million for Trump’s fundraising committees, coupled with an additional $11.3 million held by the RNC. The March 2024 fundraising outstrips the $63 million raised during the same period in the 2020 presidential campaign, a period marked by the onset of the COVID-19 pandemic.
Despite this financial momentum, Trump and the RNC face a considerable gap in funding compared to their Democratic counterparts. Biden and the Democrats reported a cash reserve exceeding $155 million by the end of February, with March’s figures yet to be disclosed. The full breakdown of fundraising activities across Trump’s network, the RNC, and other federal entities will be unveiled later this month with the release of FEC reports.
RNC Chairman Michael Whatley expressed confidence in Trump’s fundraising prowess, highlighting their unified efforts towards victory. However, Trump’s ongoing legal battles have strained his resources, contributing to Biden’s financial advantage. Trump’s leadership PAC, Save America, has incurred substantial legal expenses, surpassing $72.5 million since January 2021. A new fundraising agreement between Trump, the RNC, and state parties is designed to channel funds through various avenues, potentially aiding Trump’s legal costs.
Fundraising Tactics and Future Prospects
Trump’s fundraising endeavors include high-profile events at Mar-a-Lago and a forthcoming major fundraiser in Palm Beach, Florida, where attendees are expected to contribute up to $814,600 per person. The Trump 47 Committee, a joint fundraising operation with the RNC and state party committees, aims to surpass Biden’s recent fundraising success. Trump’s campaign hopes to exceed $33 million at the upcoming dinner, rivaling Biden’s $26 million haul from a recent star-studded event in New York.
