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Biden holds massive cash advantage over Trump ahead of Election Day

Added 10-20-20 10:57:01pm EST - “Democratic Presidential nominee Joe Biden has a? massive cash-on-hand advantage over President Trump heading into the final sprint to Election Day.” - Thehill.com

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Posted By TheNewsCommenter: From Thehill.com: “Biden holds massive cash advantage over Trump ahead of Election Day”. Below is an excerpt from the article.

Democratic Presidential nominee Joe BidenJoe BidenNearly 300 former national security officials sign Biden endorsement letter Trump narrows Biden's lead in Pennsylvania: poll Florida breaks first-day early voting record with 350K ballots cast MORE has a massive cash-on-hand advantage over President TrumpDonald John TrumpNearly 300 former national security officials sign Biden endorsement letter DC correspondent on the death of Michael Reinoehl: 'The folks I know in law enforcement are extremely angry about it' Late night hosts targeted Trump over Biden 97 percent of the time in September: study MORE heading into the final sprint to Election Day.

According to new filings with the Federal Election Commission, Biden entered October with over $177 million in the bank, compared with $63.1 million for the president, marking a sharp reversal from earlier in the cycle when Trump’s cash advantage seemed insurmountable. 

The cash-on-hand totals, which do not incorporate funds from joint fundraising committees, come after a September in which both campaigns raised impressive hauls, though Biden still significantly outraised Trump last month. The former vice president broke his own record when he raked in $383 million, while Trump raised $247.8 million. The month before, Biden raised a then-record of $364.5 million, compared with $210 million for the president.

Biden’s strong financial position in the final weeks before Nov. 3 was not taken for granted at the start of the primary season, with his fundraising lagging behind that of several of his Democratic opponents. But as the party’s base ultimately rallied around his campaign after his blowout in the South Carolina primary, so eventually did its donors.

Biden has used his gargantuan bank account to blitz the airwaves with ads, including new buys set to air during the World Series, and in recent weeks has seen his national polling lead over Trump hover in the low double digits. His single-digit leads in many swing state have also remained steady.

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