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Biden sitting on $466M heading into final weeks of election

Biden sitting on $466M heading into final weeks of election
© ROBERTO SCHMIDT/AFP via Getty Images

Democratic presidential nominee Joe BidenJoe BidenTrump rages against '60 Minutes' for interview with Krebs Cornyn spox: Neera Tanden has 'no chance' of being confirmed as Biden's OMB pick Five things to know about Georgia's Senate runoffs MORE’s campaign, in combination with the Democratic Party, started September with $466 million in cash reserves heading into the final weeks of the 2020 presidential election, an official confirmed to The Hill.

The Biden campaign's current financial advantage over President TrumpDonald John TrumpTrump rages against '60 Minutes' for interview with Krebs Cornyn spox: Neera Tanden has 'no chance' of being confirmed as Biden's OMB pick Pa. lawmaker was informed of positive coronavirus test while meeting with Trump: report MORE’s campaign and the Republican National Committee (RNC) reached more than $141 million.

The former vice president’s campaign and the Democratic National Committee (DNC) raised a record-breaking $364.5 million in August, the best month of online fundraising in U.S. political history. 

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Tim Murtaugh, the Trump campaign communications director, said the president's campaign and the RNC started this month with $325 million in cash. 

The president’s campaign spent less on television advertising in August in a cost-saving move, spending $18.7 million. Meanwhile, the Biden campaign spent $65.5 million on TV advertising, according to data from Advertising Analytics obtained by The New York Times.

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. Filings show Biden’s campaign committee raised $212 million and spent $130.3 million last month. 

Democrats also broke records with online fundraising platform ActBlue this weekend following Justice Ruth Bader GinsburgRuth Bader GinsburgFor Thanksgiving, the Supreme Court upholds religious liberty Cardinal Dolan hails Supreme Court decision on churches, COVID-19 Cuomo blames new conservative majority for high court's COVID-19 decision MORE’s death. The fundraiser said donors gave more than $91 million in the 28 hours after the Supreme Court announced her death.

Trump’s reelection campaign held a strong financial advantage this spring, $187 million ahead of Biden and the Democratic Party. But the Biden campaign spent less in the spring and increased fundraising in the summer, especially once Sen. Kamala HarrisKamala HarrisBiden announces all-female White House communications team Biden to nominate Neera Tanden, Cecilia Rouse to economic team: WSJ Memo to Biden: Go big — use the moment to not only rebuild but to rebuild differently MORE (D-Calif.) was announced as his running mate in August, according to the Times. 

--Max Greenwood contributed to this report, which was updated at 9:33 a.m.