President Biden co-hosting election fundraiser with Fetterman today in Philadelphia

President Joe Biden is co-hosting a fundraiser with Pennsylvania Senate candidate John Fetterman today in Philadelphia.

Biden is lending his support to Fetterman as the Democratic lieutenant governor strives to maintain a slim lead over Republican candidate Mehmet Oz. The GOP nominee has nearly wiped away the significant polling advantage Fetterman had held through the summer months, and the two candidates now appear to be neck-and-neck going into the final stretch of the campaign.

More:Poll shows female Pa. voters are torn between abortion, economy as top election issues

Fetterman has attributed the tightening race to a flood of attack ads paid for by national Republicans, who are fighting to keep the seat in GOP hands.

National groups on both sides of the aisle are dumping money into the race as the November election approaches, and by early October, $137 million had already been committed to current and future advertising in the contest, according to the ad tracking firm AdImpact.

Today's reception will raise money for the Fetterman Victory Fund, which is a joint fundraising effort between the candidate’s campaign, the Democratic Senatorial Campaign Committee and the Pennsylvania Democratic Party, according to an event invitation reported by the Philadelphia Inquirer.

Could appearing too close to Biden hurt Fetterman among Pa. voters?

“I think the fact that it's a closed-door fundraiser tells you all you need to know about how the campaign feels about that,” said Berwood Yost, director of Franklin and Marshall College’s Center for Opinion Research.

Toward the beginning of Biden’s term, more than 40% of Pennsylvania voters thought he was doing an excellent or good job in office, according to the college’s polling. By this August, those job ratings had dropped to about 34%, as respondents expressed anxiety about jobs, gas prices and their personal finances.

With that backdrop, Fetterman probably doesn't want to hew too closely to the president — at least in public, Yost said.

“[Biden's] administration is not popular, and he’s not personally popular here,” Yost said. “Now, he certainly can help raise money, and that’s what he’s here to do.”

What’s the relationship between Biden and Fetterman?

Given the president’s low favorability, Democratic midterm candidates have been cautious about campaigning alongside him.

Fetterman did not attend a Wilkes-Barre event with Biden in late August but appear him later during a Labor Day event in Pittsburgh. The two have also had conversations about decriminalizing marijuana, and Fetterman has praised Biden’s recent decision to pardon people who have federal convictions for simple marijuana possession.

“This is a BFD and a massive step towards justice,” said Fetterman, a longtime proponent of cannabis legalization.

Just this week, Biden’s spokeswoman said the president has found Fetterman to be an “impressive individual” and pushed back against concerns that the Democrat’s May stroke might compromise his ability to serve in the Senate.

“The president feels that he is very much capable of doing the job,” White House press secretary Karine Jean-Pierre told reporters.

Who’s leading in fundraising, Fetterman or Oz?

Fetterman has been outraising Oz in the last three months, collecting $22 million from July through September, according to campaign finance reports released last weekend. Over the same period, Oz’s campaign gathered about $16 million, including $7 million in personal loans from the candidate.

More:Fetterman enjoys $1.6M cash advantage over Oz heading into campaign's final weeks

Both campaigns are spending money almost as quickly as they raise it; the reports show Fetterman had about $4.2 million remaining in his bank account at the end of September, while Oz had roughly $2.5 million.

And both candidates will have to dig deep into their fundraising networks and their support bases to finish out the race, Yost said.

This article originally appeared on Erie Times-News: Fetterman, Biden to host private fundraiser in Pennsylvania