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 parity 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 cash advantage has fallen to about 2-to-1 as Republicans prepare for the general election.
Republicans are expected to be helped by GOP-leaning outside groups planning to raise hundreds of millions of dollars to defeat Obama.
Obama is spending about $25 million on TV ads in May, an amount that was quickly matched by the GOP-leaning super PAC Crossroads GPS, which is advertising against Obama in 10 states.
A Democratic super PAC called Priorities USA Action is spending about $4 million on ads in five states attacking Romney's business background.