PRESIDENT Joe Biden raised more than US$90 million for his reelection campaign and the Democratic Party in March, topping Republican nominee Donald Trump’s haul and widening his financial advantage.

The president and his party ended March with US$192 million cash on hand, the most ever amassed for a Democrat at this point in the calendar, according to a statement by Biden’s campaign. That is more than double US$93.1 million that Trump and the Republican Party said they had at the end of last month.

Biden had his biggest total from small-dollar donors to date, breaking records set in each of the previous four months. The campaign doubled the size of its mailing list and saw twice as much interaction from those receiving its e-mails and text messages.

Donors with deep pockets also chipped in, including the US$26 million the campaign raised at an event last month in New York City featuring Biden and former Presidents Bill Clinton and Barack Obama.

Biden has raised more than US$422 million since launching his reelection bid last April. As an incumbent with only nominal opposition in the primaries, he’s been able to stockpile money for the general election. Meanwhile, Trump battled through an expensive primary season, fending off challengers including Florida Governor Ron DeSantis and former ambassador to the United Nations Nikki Haley.

In March, 704,000 donors made 864,000 contributions, with Biden’s biggest daily total the US$10 million raised after his State of the Union speech. A contest to attend the fundraiser in New York City brought in US$9.5 million from grassroots contributors.

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“The money we are raising is historic, and it is going to the critical work of building a winning operation,” campaign manager Julie Chavez Rodriguez said in a statement, pointing to the campaign’s offices around the country, growing staff in battleground states and its paid media programme.

Biden is hoping to capitalise on Trump’s legal challenges, which include four criminal indictments that have eaten into some of his war chest.

In a fundraising message on Saturday (Apr 6), Biden’s campaign touted his small-donor haul – a hallmark of Trump’s fundraising in the past – and said his opponent was in Florida “collecting checks from a couple of billionaires who are looking for a tax cut”.

Trump, who only began fundraising with the Republican National Committee (RNC) in mid-March, brought in US$65.6 million, but is poised to raise more.

An event in Palm Beach hosted by billionaire John Paulson on Saturday is expected to generate US$43 million for Trump from contributors writing six-figure checks. Until he secured the nomination and began raising money for the RNC and state parties, Trump could accept just US$3,300 from individuals for his campaign. He can now take in US$814,600 per donor. BLOOMBERG