President Joe Biden’s reelection campaign announced Tuesday that it raised $42 million in January as the presidential effort continues to out-fundraise former Donald Trump’s campaign and the Republican National Committee (RNC), according to Axios.
Biden’s reelection effort now has $130 million after revealing what it brought in the last month. At the end of 2023, the RNC had $8 million in cash, according to Federal Election Commission (FEC) filings. The Trump campaign had $33 million cash in hand, though neither the presidential campaign nor the RNC have released their January numbers, according to Axios.
Trump’s presidential campaign raised $19 million throughout the fourth quarter of 2023, with $18 million coming from fundraising committees affiliated dedicated to backing the former president, CNBC News reported. Over those three months, at least $60,000 went to pay Trump’s legal fees, the outlet reported.
Over the past year, the former president’s fundraising coalition has footed the cost of more than $50 million in legal costs, Axios reported.
Biden’s numbers indicate that incumbents have an advantage when it comes to fundraising. Ahead of the 2020 election, then-President Trump raised more than $60 million and reported $200 million cash in hand across his fundraising groups, Politico reported.
Supporters of President Joe Biden attend a ‘First In The Nation’ rally on January 30, 2024 in Bluffton, South Carolina. South Carolina continues preparations ahead of the next Primary election on February 3. (Photo by Brandon Bell/Getty Images)
Amid the massive fundraising haul, Biden still trails Trump in hypothetical matchups. Across several swing states, including Arizona, Pennsylvania, Michigan, Georgia, North Carolina and Florida, Trump is leading the 81-year-old by as much as 11 points, according to a January Redfield & Wilton Strategies survey.
Following a scathing special counsel report detailing Biden’s declining memory, the president’s fitness for office has become the center of talk surrounding the 2024 presidential election. Seventy-six percent of Americans are worried about Biden’s health ahead of the 2024 election, according to a Feb. 6 NBC poll. (RELATED: KJP Reads From Prepared List Of Times Republicans Misspoke To Argue Joe Biden Is Mentally Fit)
Amid concerns, the Biden campaign is reportedly relying on March’s State of the Union address to serve as a reset for the campaign, according to Axios.
“Everyone around him is well aware — well aware — of the need to jack this campaign up,” a source close to Biden told Axios. “The only way to deal with the negative aftershocks of the special counsel’s report [slamming Biden’s age] is for the president to be out there, to be visible — to be strong of presence and strong of voice.”