WASHINGTON -- President Barack Obama holds a cash advantage of more than 2-to-1 over Republican challenger Mitt Romney, but the president's money advantage is beginning to dwindle.
Obama's campaign reported $115.1 million in the bank through April, and the Democratic National Committee had about $24.2 million in its account at the end of last month.
Romney began raising money last month with the Republican National Committee and hauled in a combined $40 million, nearly on par with Obama and Democrats, who raised about $43 million. Romney and Republicans reported $61.4 million in the bank in April, meaning that in only a month, Obama's 10-to-1 cash advantage has fallen to 2-to-1 as Republicans prepare for the general election.
Romney and his wife, Ann, donated in May the maximum $75,000 each to the Victory Fund, his campaign's joint fund with the Republican National Committee.
It was their first donation this cycle to his campaign.
Republicans are expected to be helped by GOP-leaning outside groups planning to raise hundreds of millions of dollars to defeat Obama.
Obama campaign manager Jim Messina said this week that the president has faced $57 million in negative ads.