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.
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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.