Biden’s $466 Million Bankroll Tops Trump by $141 Million

September 21, 2020by Bill Allison, Bloomberg News (TNS)

WASHINGTON — Democratic presidential nominee Joe Biden started September with a $466 million mountain of cash to take on President Donald Trump and the Republicans, completely reversing the GOP’s financial advantage in just four months.

In April, Biden, the Democratic nominee, had about $98 million in the bank compared to $255 million for the incumbent. Yet Democratic donor enthusiasm, driven by opposition to Trump and further energized by the selection of Sen. Kamala Harris as Biden’s running mate, has given the former vice president an unprecedented financial edge for a challenger.

The money is held by the Biden campaign, the Democratic National Committee, and two joint fundraising committees that raise funds for both entities, according to a campaign official, who asked not to be named because he doesn’t speak for the campaign. The total was first reported by The New York Times.

Trump’s reelection effort had $325 million at the end of August, according to spokesman Tim Murtaugh, or $141 million less than Biden. The campaign has made 102 million voter contacts, and has far more money than it did in 2016.

But the Trump operation cut advertising spending in August and has gone completely dark in key states in September. Biden is widely outspending Trump on media, booking $125.1 million on television, radio and digital ads in September compared to $65.1 million for Trump, according to Advertising Analytics.

And the cash keeps rolling in for Democrats. Since the death of Supreme Court Justice Ruth Bader Ginsburg on Friday, Democrats have seen a record-setting deluge of donations through ActBlue, the party’s online platform for donating to candidates and causes. Between the announcement of her death on Friday night and 10 p.m. Sunday, grassroots donors gave more than $126 million. That outpouring comes after Biden raised a record $364.5 million in August, including $48 million in the two days after he selected Harris.

That month, Trump and the Republican National Committee raised $210 million.

———

©2020 Bloomberg News

Distributed by Tribune Content Agency, LLC.

Campaign Finance

Biden’s $466 Million Bankroll Tops Trump by $141 Million
Campaign Finance
Biden’s $466 Million Bankroll Tops Trump by $141 Million

WASHINGTON — Democratic presidential nominee Joe Biden started September with a $466 million mountain of cash to take on President Donald Trump and the Republicans, completely reversing the GOP’s financial advantage in just four months. In April, Biden, the Democratic nominee, had about $98 million in... Read More

Trump Campaign Slashes Ad Spending in Key States in Cash Crunch
2020 Elections
Trump Campaign Slashes Ad Spending in Key States in Cash Crunch

WASHINGTON — President Donald Trump’s campaign is scaling back its television advertising spending and in some cases abandoning it altogether for now in key states, facing a cash crunch brought on by huge investments in staff and operations. Trump’s reelection campaign vowed last month to saturate... Read More

Trump Campaign Raises $210 Million in August, Trailing Biden
2020 Elections
Trump Campaign Raises $210 Million in August, Trailing Biden

WASHINGTON — President Donald Trump’s 2020 reelection campaign and the Republican National Committee announced Wednesday that they jointly raised $210 million in August, trailing the record haul their Democratic counterparts brought in during the same time period. While Trump’s August fundraising is a record for his... Read More

Campaign Watchdog Accuses Trump Re-Election Campaign of Laundering $170 Million
Political News
Campaign Watchdog Accuses Trump Re-Election Campaign of Laundering $170 Million
July 29, 2020
by Dan McCue

WASHINGTON - President Trump's re-election campaign allegedly laundered $170 million in spending to conceal payments made to Trump family associates and people working with the campaign, a non-partisan campaign watchdog claims. In an 81-page complaint filed with the Federal Election Commission on Tuesday, the Campaign Legal... Read More

Trump’s Big-Donor Gifts Plunge 61% as He Sits Out Virtual Events
Campaign Finance
Trump’s Big-Donor Gifts Plunge 61% as He Sits Out Virtual Events

President Donald Trump skipped all of his campaign’s virtual fundraisers in the first few months of the coronavirus pandemic while mocking Democratic nominee Joe Biden for appearing from his basement. But it looks like Biden might be laughing all the way to the bank. Trump’s receipts... Read More

Biden Surpasses Trump in June Fundraising
2020 Elections
Biden Surpasses Trump in June Fundraising

Joe Biden reported raising $10 million more than President Donald Trump last month amid new polls showing the former vice president holding a solid lead in the race for the White House. The increasingly strong footing of Trump’s presumed Democratic challenger comes at a time when... Read More

News From The Well
scroll top