Updated Oct 21, 2020 - Politics & Policy

Biden has huge cash advantage over Trump as Election Day nears

Democratic presidential nominee Joe Biden waves as he departs The Queen theater on October 19

Democratic presidential nominee Joe Biden in Wilmington, Del., on Monday. Photo: Drew Angerer/Getty Images

Democratic presidential nominee Joe Biden had $177.3 million in the bank at the end of September, per the latest Federal Election Commission filings.

Why it matters: President Trump's re-election campaign reported having $63.1 million in the bank at the end of last month, as campaigning enters the final stretch ahead of Election Day on Nov. 3.

Of note: The latest cash-on-hand totals do not include funds from joint fundraising committees.

By the numbers: Trump's campaign, its committees and the RNC, gave the president $251.4 million going into October. Biden's campaign and its joint committees with the DNC had $432 million.

  • Biden's campaign spent almost $285 million last month, while Trump's paid out $139 million.

For the record: Biden announced last Wednesday his presidential campaign had raised a record $383 million in September, while Trump's re-election campaign and its joint fundraising committees raised $247.8 million for the month.

The bottom line: Per an emailed statement from Trump campaign spokesperson Samantha Zager, the president's 2016 Democratic rival Hillary Clinton "outspent us 2-to-1," but he still won the election.

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Editor's note: This article has been updated with new details throughout

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