POSTED: Wednesday, April 25, 2012 - 11:30am
UPDATED: Wednesday, April 25, 2012 - 11:34am
NATIONAL NEWS (CNN) — President Barack Obama will only have to travel four blocks to his campaign fundraiser in Washington Wednesday, but the event will boost his reelection bid's coffers by nearly $900,000.
A campaign aide said the evening event, held at the Jefferson Hotel, would be attended by 25 supporters paying $35,800 per ticket. Proceeds from the fundraiser will go to the Obama Victory Fund, a joint fundraising committee of Obama for America, the Democratic National Committee and several state Democratic parties.
Last week Obama's reelection team filed fundraising records with the Federal Election Commission showing they had raised $53 million in March, an increase of $8 million from the month before.
In total, Obama's team has just over $104 million cash on hand, a ten-to-one advantage over likely GOP nominee Mitt Romney.
All together, Obama's campaign and the Obama Victory Fund have raised a combined $291 million through March 30.