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.

In The News

Health

Voting

Campaign Finance

Cruz Victorious: Court Declares Campaign Loan Repayment Rule Unconstitutional
Campaign Finance
Cruz Victorious: Court Declares Campaign Loan Repayment Rule Unconstitutional
June 7, 2021
by Dan McCue

WASHINGTON - A federal court in Washington struck down a provision of the Bipartisan Campaign Reform Act last week, declaring it unconstitutional after Sen. Ted Cruz complained it barred him from repaying the $260,000 he lent himself during his 2018 campaign. The ruling is a victory... Read More

D.C. Circuit Tosses Election Act Case
Campaign Finance
D.C. Circuit Tosses Election Act Case
May 19, 2021
by Dan McCue

WASHINGTON - The Campaign Legal Center had neither standing nor a claim when it accused the Federal Elections Commission of failing to act on a claim a federal contractor violated campaign finance laws. The nonpartisan Campaign Legal Center and Catherine Hinckley Kelley, a senior director, filed... Read More

Dozen Megadonors Account for Nearly 1 of Every 13 Dollars Raised Since 2009
Campaign Finance
Dozen Megadonors Account for Nearly 1 of Every 13 Dollars Raised Since 2009
April 20, 2021
by Dan McCue

A dozen top megadonors — at least eight of whom are billionaires — have pumped a combined $3.4 billion dollars into federal elections since 2009, according to new research by Issue One, a nonpartisan group working to curtail the influence of money in politics. Based on... Read More

House Democrats Campaign Arm Raised $11.5 Million in February
Campaign Finance
House Democrats Campaign Arm Raised $11.5 Million in February
March 19, 2021
by TWN Staff

The Democratic Congressional Campaign Committee raised over $11.5 million in February, far surpassing the organization's previous record for the most raised in February of a midterm election cycle. In a brief statement released Friday morning, the DCCC said the average online donation was just $16.  In a... Read More

Grassroots Donors Spark $7 Million Mid-Winter Harvest for Democrats
Campaign Finance
Grassroots Donors Spark $7 Million Mid-Winter Harvest for Democrats
February 19, 2021
by TWN Staff

The Democratic Congressional Campaign Commitee revealed Friday that it raised $7 million in January due to robust grassroots support, the hard work of House Democrats and the leadership of House Speaker Nancy Pelosi. The DCCC’s January fundraising was anchored by $5.4 million from grassroots donors who contributed... Read More

Sheldon Adelson, Casino Mogul and GOP Power Broker, Dies
Political News
Sheldon Adelson, Casino Mogul and GOP Power Broker, Dies

LAS VEGAS (AP) — Sheldon Adelson, founder, chairman and CEO of Las Vegas Sands, has passed away at the age of 87 from complications related to treatment for non-Hodgkin’s Lymphoma , the casino company announced Tuesday. At one point the third richest man in the world,... Read More

News From The Well
scroll top