Democratic nominee Joe Biden holds a massive cash advantage over President Donald Trump heading into the final stretch of the 2020 presidential election.
Trump’s campaign ended September with $63.1 million on hand, his campaign said, despite previously canceling ad buys in several swing states. Biden’s campaign said that it ended the month with $177.3 million in the bank, giving him a financial edge of more than $110 million.
Though Trump’s campaign along with the Republican National Committee and affiliated super PACs have raised approximately $1.5 billion since the start of 2019, the campaign’s disclosures, released Tuesday to the Federal Elections Commission, hold only a minuscule amount.
While the Trump campaign and its affiliated committees entered October with $251.4 million, they still faced a daunting cash deficit compared to Biden and his campaign’s joint accounts, who entered the final month of the campaign with $432 million on hand.
The totals are an almost total reversal from the spring, when Trump had a nearly $200 million cash advantage over Biden. Now, helped by consecutive months of raising over $350 million, Biden has nearly three times the amount of money than the president. (RELATED: Trump’s Self-Inflicted Wounds Make For An Unlikely Reelection, Experts Say)
Trump defended his campaign’s financial situation Tuesday during a rally in Erie, Pennsylvania, saying that he could be “the king of all fundraisers,” but that he did not want to “owe” large donors, according to The New York Times.
His comments were echoed by Trump spokeswoman Samantha Zeger, who said in a statement that the campaign has “all of the resources” it needs “going into the final stretch of the election.”
RNC Chairwoman Ronna McDaniel also expressed confidence in the campaign’s finances, saying in a statement that President Trump and Republicans up and down the ballot have inspired a grassroots juggernaut of volunteers that Democrats can’t even dram of.”
Biden’s massive fundraising totals were reflected by down-ballot Democrats as well, including 12 Democratic senate candidates who collectively raised over $275 million in the third quarter of 2020. Jaime Harrison, a Democrat who is challenging GOP Sen. Lindsey Graham in South Carolina, raised $57 million over the period, leaving him just $6 million shy of the Trump campaign.
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