Trump aims to level playing field in fundraising battle with Biden as GOP billionaires come to the rescue

Former President Donald Trump significantly trails President Biden in the crucial dash for campaign cash, but he is hoping to level the playing field with the formation of a joint fundraising committee with the Republican National Committee (RNC).

The committee, titled the Trump National Committee JFC, filed a statement of organization on Wednesday with the Federal Elections Commission.

Trump, who clinched the GOP presidential nomination last week and is now the Republican Party's 2024 presumptive nominee, has taken control of the RNC and installed allies in the national party committee's top leadership positions.

The move comes as Trump aims to catch up to Biden in the fundraising race.