Biden Raised $53 Million in February, Boosting Record War Chest

(Bloomberg) -- President Joe Biden raised more than $53 million for his reelection campaign and the Democratic Party in February, a record amount for the month.

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The president and his party ended the month with $155 million cash on hand, the most ever amassed for a Democrat at this point in the calendar, and had its biggest haul from small-dollar donors to date, breaking records set in the three prior months, according to a statement by Biden’s campaign.

Biden has raised more than $331 million since launching his reelection bid in April and enjoys a large financial advantage over his Republican rival, former President Donald Trump, who has yet to report February numbers. Both campaigns are due to report detailed information on their fundraising totals to the Federal Election Commission on Wednesday.

In February, 469,000 unique donors made 562,000 contributions to Biden’s reelection effort, sometimes sparked by his rival. In the 48 hours following Trump’s victory in the South Carolina Republican primary, Biden’s campaign raised $1.6 million from grassroots donors. The campaign’s email solicitations brought in 40% more than in January, with pitches centered on Trump winning the Republican nomination ranking among the biggest generators of donations.

Trump has yet to begin fundraising with the Republican National Committee, which can accept checks in much larger amounts than his campaign. However, he’s leading Biden in seven swing states in a hypothetical head-to-head match-up, according to Bloomberg News/Morning Consult polling.

In a close election, the outcome could come down to which side is better able to get out the vote, said Jaime Harrison, chairman of the Democratic National Committee.

“These resources are historic, unprecedented,” he said, pointing to the party’s voter protection program and its ability to bolster operations in battleground states. “It’s an advantage in terms of the infrastructure we’re going to build.”

Democrats are staffing up while the Republican National Committee recently had layoffs, he said.

Read more: Biden’s Best Shot Against Trump Lies in the ‘Blue Wall’ States

Biden is hoping to capitalize on Trump’s legal challenges, which include four criminal indictments and have eaten into some of his war chest. Trump has also had to spend millions in the primary fending off Florida Governor Ron DeSantis and former Ambassador to the United Nations Nikki Haley, along with other challengers. Biden had no serious competition for the Democratic nomination.

Biden’s team announced that it raised $10 million in the 24 hours following his State of the Union address on March 7, which appeared to quell concerns — at least temporarily — among supporters in his party about his age and mental acuity.

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