President Donald Trump, the Republican National Committee and affiliated joint fundraising committees raised $247.8 million in September, Trump’s campaign announced, leaving him at a significant cash deficit to former Vice President Joe Biden entering the final stretch of the 2020 election.
Biden’s campaign and affiliated committees raised a record $383 million in September, and they had $432 million in reserves at the end of the month, his campaign announced Wednesday.
Tim Murtaugh, the director of communications for Trump’s campaign, tweeted late Thursday that the president also had $251.4 million cash on hand to start October.
It is a major reversal from the spring, where Trump had a seemingly unbeatable fundraising head start against Biden, who entered the Democratic primary facing questions about his fundraising and had to run a lean campaign before taking off and securing the Democratic nomination.
Biden has taken advantage of his cash edge in recent weeks, expanding his TV spending into traditionally Republican states like Texas while Trump gets significantly outspent on the airwaves.
Murtaugh said that Trump had the resources necessary to win the election, despite Biden's financial dominance.
“President Trump hits final stretch with strength, resources, record & huge ground game needed to spread message and secure re-election,” Murtaugh tweeted.
Biden’s fundraising advantage comes as Democratic grassroots donors flood campaigns up-and-down the ballot with donations. ActBlue, the Democratic online payment processor, handled $1.5 billion in the quarter, including $758 million just in September. WinRed, its Republican counterpart, processed over $623.5 million in the third quarter.
Casino magnate Sheldon Adelson and his wife Miriam Adelson have rushed to try to fill the fundraising gap between the president and Biden. They donated $75 million to the super PAC Preserve America during the last month.