Trump Slows Campaign Spending as He Tries to Close Cash Gap With Biden

Former President Donald J. Trump’s presidential campaign committee ended March with $45 million on hand, federal filings showed Saturday, as he tries to close the fund-raising gap with President Biden.

But Mr. Trump’s campaign is spending much less than it was at the start of the year, which has helped it inch closer. In March, it spent just $3.7 million, the new filings show, compared with $11.4 million in January — and much less than the $29.2 million spent by Mr. Biden’s campaign in March. In other words, Mr. Trump’s campaign is guarding resources as it seeks to build a campaign war chest for the general election.

Mr. Biden’s campaign had $85.5 million on hand at the end of March, according to its monthly filing with the Federal Election Commission, a significant increase from the month before: He ended February with $71 million in his campaign account while Mr. Trump ended February with less than half that.

As Mr. Trump and Republicans chase the Democrats’ financial edge, Mr. Biden has also started to narrow the polling gap between himself and Mr. Trump. Since late February, the president has cut a deficit of five percentage points to a single point, a virtual tie, according to a recent survey by The New York Times and Siena College.

The rivals each capitalized on splashy fund-raisers in the past month that brought in tens of millions of dollars for their respective campaigns. But Mr. Trump’s haul from an April 6 event in Palm Beach, Fla., will be reflected on a future filing. His campaign reported that it and the Republican National Committee raked in more than $50.5 million from the dinner, which was held at the home of the billionaire John Paulson.