Biden gains cash advantage over Trump for first time in 2020 presidential election cycle

Joe Biden outraised Donald Trump by $150 million according to campaign finance reports filed with the Federal Election Commission on September 20.

The Biden campaign raised $212 million in August, a percentage difference of 109% from the Trump campaign’s $62 million. Biden’s campaign spent $130 million to Trump’s $61 million. As of August 31, the Biden campaign had $60 million more in cash on hand than the Trump campaign ($181 million to $121 million), marking the first time his campaign has held a cash advantage over Trump. Biden also leads Trump in overall fundraising for the first time, cumulatively raising $541 million to Trump’s $476 million.

Biden’s campaign more than quadrupled its receipts from July in August ($50 million to $212 million), while Trump’s receipts declined by $10 million ($72 million to $62 million).

Biden’s $541 million in overall fundraising is the second-highest figure for any presidential candidate at this point in the past four cycles. The only candidate to have outraised him was Barack Obama (D), who had raised $598 million in inflation-adjusted funds at this point in 2008. Biden’s cash-on-hand total of $181 million is the highest of any candidate’s at this point in the election cycle, topping Trump’s $121 million this year and Obama’s $102 million in inflation-adjusted cash on hand in September 2012.

Biden and Trump’s combined $1 billion in fundraising is the highest across the four most recent election cycles. At this point in the 2008 campaign, Barack Obama and John McCain (R) had raised a combined inflation-adjusted $908 million.

Additional reading: