The latest major national poll in the 2024 race between Vice President Kamala Harris and former President Donald Trump indicates a dead heat – the latest metric to point to a White House race well within the margin-of-error.
However, in the battle for campaign cash – another important indicator in presidential politics – there is a clear frontrunner, Vice President Harris.
According to the latest figures the two major party presidential campaigns filed with the Federal Election Commission, Harris is reported hauling in $97 million during the first half of October.
That far outpaced the $16 million the Trump campaign said it raised during the first half of this month.
Both campaigns use a slew of affiliated fundraising committees to haul in cash, and when those are included, Trump narrowed the gap but was still soundly topped $176 million to $97 million during the first two weeks of this month.
The new filings also spotlight that the Harris campaign continues to vastly outspend the Trump campaign. During the first 16 days of October, the Democratic presidential nominee’s campaign outspent Trump $166 million to $99 million – with paid media the top expenditure for both campaigns.
However, Harris finished the reporting period with more cash in her coffers – reporting a cash-on-hand of $119 million as of Oct. 16, with Trump at $36 million. When joint-fundraising committees are also included, Harris holds a $240 million to $168 million cash-on-hand advantage.
President Biden’s campaign and the Democratic National Committee (DNC) enjoyed a fundraising lead over Trump and the Republican National Committee (RNC) earlier this year. However, Trump and the RNC topped Biden and the DNC by $331 million to $264 million during the second quarter of 2024 fundraising.
Biden enjoyed a brief fundraising surge after his disastrous performance in his late June debate with Trump, as donors briefly shelled out big bucks in a sign of support for the 81-year-old president.
However, Biden’s halting and shaky debate delivery also instantly fueled questions about his physical and mental ability to serve another four years in the White House and spurred a rising chorus of calls from within his own party for the president to end his bid for a second term. The brief surge in fundraising did not last and, by early July, it began to significantly slow down.
Biden bowed out of the 2024 race on July 21, and the party quickly consolidated around Harris, who instantly saw her fundraising soar, spurred by small-dollar donations. Harris has vastly outpaced Trump in fundraising since taking over at the top of the Democrats’ ticket.
This is not the first time Trump’s faced a fundraising deficit. He raised less than 2016 Democratic presidential nominee Hillary Clinton in his White House victory and was outraised by Biden four years ago in his re-election defeat.
When asked about the fundraising deficit, RNC chair Michael Whatley told Fox News Digital last month that ‘the Democrats have a ton of money. The Democrats always have a ton of money.’
However, he emphasized that ‘we absolutely have the resources that we need to get our message out to all the voters that we’re talking to and feel very comfortable that we’re going to be able to see this campaign through, and we’re going to win on Nov. 5.’
Fundraising is a key measure of a candidate’s popularity and their campaign’s strength. The money raised can be used to – among other things – hire staff, expand grassroots outreach and get-out-the-vote efforts, pay to produce and run ads on TV, radio, digital and mailers, and for candidate travel.
