Joe Biden Retains Cash Lead in Presidential Race

President Joe Biden speaks at the National Museum of African American History and Culture in Washington, on May 17, 2024. (Andrew Caballero-Reynolds/AFP via Getty Images)

President Joe Biden continues to surpass his rivals in the 2024 presidential race in terms of cash on hand, according to new federal disclosures.

On May 20, political committees attached to the leading presidential candidates issued public disclosure statements with the Federal Election Commission. Although the filings present an incomplete financial picture, they show President Biden leading the way in terms of cash on hand.

Joe Biden

Only two of President Biden’s political committees issued disclosures, but the pair held more than $141.5 million in cash on hand at the end of April.

According to the FEC, the president’s principal campaign committee, Biden For President, raised $24.2 million in April, a sharp decline from the about $43.8 million the committee raised in the prior month.

Nevertheless, Biden For President retained about $84.5 million in cash on hand at the end of April. The committee spent $25.2 million during the month.

Future Forward, a key Biden ally, also reported in April. The hybrid PAC formerly reported quarterly.

Future Forward, or FF PAC, told the FEC it brought in about $16.2 million in April. The PAC had about $57.1 million in cash on hand at the end of the month. It spent about $678,000 in April. The committee also reported about $16,000 in debts.

Biden For President said the Biden campaign can now access more than $192 million in cash on hand, according to a press release. The same release said “Team Biden-Harris” raised more than $51 million in April. That amount “continues to outpace any Democratic candidate in history at this point in the cycle.”

The source of the amounts claimed by Biden For President is unclear and cannot be immediately verified. A number of joint fundraising committees associated with the campaign did not issue disclosure statements in May and will not do so until the middle of July.

The figure apparently includes the Democratic National Committee’s fundraising total. According to the FEC, the DNC raised about $35.5 million in April and closed out the month with about $62 million in cash on hand.

Donald Trump

Three of former President Donald Trump’s committees reported on May 20. Those three groups—Donald J. Trump For President 2024 Inc., Make America Great Again Inc., and Save America—collectively raised about $31.2 million during the month and held about $92.2 million.

According to its FEC filings, the super PAC MAGA Inc. raised about $12.8 million and spent about $11.6 million in April. It ended the month with $34.5 million in cash on hand.

In April, the qualified leadership PAC Save America brought in about $9 million and spent about $4.3 million. It closed the month with $8.8 million in cash on hand and about $1.1 million in debts.

The principal campaign committee, Donald J. Trump For President 2024, collected about $9.4 million and used about $5.5 million. It closed out April with about $49.1 million in cash on hand and about $1.1 million in debts.

Former President Donald Trump attends his trial at Manhattan Criminal Court in New York City, on May 14, 2024. (Michael M. Santiago/Pool/AFP)

Like the Biden campaign, the Trump campaign issued a release hailing the month’s fundraising haul.

“President Trump and the [Republican National Committee] significantly outraised Biden and the Democrats in the month of April, thanks to the support of millions of small-dollar donors from every state across the country,” Karoline Leavitt, the Trump campaign’s press secretary, said in a statement.

Also, like the Biden campaign’s claim, the monetary feat cannot be independently verified. A number of committees associated with the Trump campaign did not report on May 20 and will not reveal their financials until July 15.

The RNC raised about $32 million in April, according to its FEC filings. The GOP’s party committee held about $39 million in cash on hand at the end of the month.

Robert F. Kennedy Jr.

Independent presidential candidate Robert F. Kennedy Jr.’s campaign also benefitted from a sizeable fundraising month in April.

The Kennedy campaign is supported by its principal campaign committee, Team Kennedy, and an allied hybrid PAC, American Values 2024.

Those two bodies raised more than $16.8 million during the month. The campaign now has access to about $31 million in cash on hand.

Team Kennedy brought in about $10.7 million in April. During the same period, it spent about $6.5 million. It owed about $1.2 million in debts at the end of April, according to the FEC.

American Values collected about $6.2 million in April. The PAC spent about $2.9 million. It closed out the month with about $20.9 million in cash on hand.

The Kennedy campaign was boosted by two key donors: Nicole Shanahan and Tim Mellon.

Ms. Shanahan, Mr. Kennedy’s running mate, gave Team Kennedy $8 million in April. The money, according to the Kennedy campaign, will allow the candidate to appear on the ballot in every state and the District of Columbia.

Mr. Mellon, a Republican megadonor, sent $5 million to American Values in April. The same donor sent $10 million to MAGA Inc. during the month.