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 Senator 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 re-election 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 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.-Bloomberg