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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 BidenFormer Rep. Rohrabacher says he took part in Jan. 6 march to Capitol but did not storm building Saudis picked up drugs in Cairo used to kill Khashoggi: report Biden looking to build momentum for Putin meeting 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 TrumpDOJ asks Supreme Court to revive Boston Marathon bomber death sentence, in break with Biden vow Biden looking to build momentum for Putin meeting DOJ tells media execs that reporters were not targets of investigations 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 GinsburgOcasio-Cortez says Breyer should retire from Supreme Court Progressives want to tighten screws beyond Manchin and Sinema Juan Williams: Time for Justice Breyer to go 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 HarrisHarris highlights COVID-19 vaccination safety, efficacy in SC event to kick off tour Kamala Harris is still not ready for primetime (much less 2024) Lara Trump calls on Americans at border to 'arm up and get guns and be ready' 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.