Trump, RNC Raise $65.6M To Bolster Campaign War Chest And Close Gap With Biden

Donald Trump and the Republican Party announced Wednesday that they had raised $65.6 million in contributions in March, bringing their cash on hand to $93.1 million by month-end.

The surge in support comes amid Trump's confirmation as the presumptive nominee and the appointment of new party leadership, marking a substantial bolstering of the party's financial resources. The results for March surpass the combined total of $21.6 million raised by Trump's campaign and the party in February.

According to AP, the substantial increase in contributions significantly narrows the financial advantage that President Joe Biden and the Democratic National Committee had established, concluding February with $155 million in reserves. Biden's fundraising numbers for March are still pending.

"President Donald J. Trump has again created a fundraising juggernaut among Republicans. While he has been the presumptive nominee for the Republican Party for less than a month, the RNC and Trump campaign are one unified operation and focused on victory," Republican National Committee (RNC) chairman Michael Whatley said in a statement Wednesday.

Whatley and Lara Trump, the former president's daughter-in-law, assumed leadership roles within the RNC in March, following the resignation of former chair Ronna McDaniel amid dissatisfaction among Trump allies regarding the fundraising performance during her tenure.

Susie Wiles, a senior advisor to Trump's campaign, said in a statement that the donations would fuel Republicans up and down the battle. "Our campaign, working together with the RNC, has been steadily ramping up our fundraising efforts, and our March numbers are a testament to the overwhelming support for President Trump by voters all across the spectrum," she said.

"Republicans may not be beneficiaries of the self interested largess from Hollywood and Silicon Valley elites, but President Trump is proud to be supported by donations from voters who are the backbone of this nation, which will fuel Republicans up and down the ballot," Wiles added.

Previously, donors could give Trump a maximum of $6,600. But, upon becoming the party's presumptive nominee, he can receive contributions up to $814,600, which is allocated across his campaign, the RNC, and GOP state parties, according to Bloomberg.

In contrast, Biden has been fundraising jointly with his party since the start of his reelection campaign.

It is expected that Trump will receive another substantial financial boost later this week, as hedge fund manager John Paulson is scheduled to host a fundraiser for Trump in Palm Beach, Florida. Anticipated to raise over $30 million, this event is expected to significantly strengthen Trump's campaign coffers.