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Democrats Outpace Republicans in 2024 Election Fundraising

With a significant cash advantage and fewer internal conflicts, Democrats lead in the race for campaign funds as GOP struggles with donor retention and infighting.

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Former President Donald Trump speaks to reporters at Atlanta Hartsfield-Jackson International Airport on August 24, 2023. Republicans are raising concerns about Trump’s fundraising ahead of the November election.
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Overview

  • The Democratic National Committee (DNC) has significantly outpaced the Republican National Committee (RNC) in fundraising efforts for the 2024 election, with the DNC raising $16.6 million in February compared to the RNC's $10.7 million.
  • President Joe Biden and the DNC have a combined $155 million cash on hand, maintaining a financial edge over the GOP, which raised $32 million last month and entered March with an $81.3 million war chest.
  • The RNC's financial struggles are attributed to infighting and a new joint fundraising agreement with Donald Trump's campaign, which diverts funds to cover Trump's legal fees, potentially deterring big donors.
  • Republicans' reliance on small-dollar donors has diminished, with Trump's campaign seeing a significant decrease in donations from this group compared to previous years, raising concerns about the GOP's fundraising capacity.
  • Despite the GOP's fundraising challenges, Trump's legal battles and controversial statements continue to energize his base, with his campaign raising $10.6 million from 280,000 digital donations last week.