Biden Campaign Boosts Cash Holdings

Democratic presidential nominee Joe Biden leaves after speaking Sunday at the National Constitution Center in Philadelphia

Biden Campaign Boosts Cash Holdings

Democratic presidential nominee Joe Biden is celebrating the ninth anniversary of repealing "Don't Ask, Don't Tell" by supporting transgender troops.

While the Trump campaign started 2020 with a considerable cash advantage, Biden has closed the gap as Democratic donors consolidated behind him and the Trump campaign has burned through its money faster.

But six months later - after Biden raised $205 million online alone in August, just $5 million less than the Trump campaign's entire monthly haul - Biden's digital director and the rest of the campaign's digital team feel a dash of vindication.

The cash stockpile of Biden and party allies compares with $294 million that the campaign had announced in early August, which was less than Trump's re-election effort had at the time. Almost one-third of Biden and Democrats' total fundraising for this election cycle came last month.

Trump's reelection campaign held a strong financial advantage this spring, $187 million ahead of Biden and the Democratic Party.

At OpenSecrets.org we offer in-depth, money-in-politics stories in the public interest. "You need yourself." Trump was at a financial disadvantage in the 2016 race and won.

Trump's campaign bought no ads on local TV in Pennsylvania, Michigan and New Hampshire, and was outspent by Biden significantly in Florida, North Carolina and Wisconsin.

Even with these cuts, Federal Election Commission documents released Sunday determined that Trump's campaign committee fundraised $61.7 million in August, spent $61.2 million and added $900,000 in debt. Since July 2016, more than 1,500 service members were diagnosed with gender dysphoria.

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