Campaign spending booms in race to define Harris
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Kamala Harris and Donald Trump's teams are racing to define the vice president, burning through cash to buy TV ads at a rate that indicates both sides see August as a turning point in the 2024 election.
Why it matters: Harris' late entry after President Biden stepped aside has compressed the campaign into a European-style sprint.
- Harris and Trump are rushing to lock in perceptions about her for a sliver of the electorate in the six or seven swing states likely to decide the winner on Nov. 5.
- Through Thursday, the Harris and Trump campaigns and their supporting groups had reserved a total of about $280 million in ads just in August, according to AdImpact.
- Both plan to turn their record-setting fundraising into tens of millions more in ad buys by the end of the month.
Zoom in: Trump's main super PAC, MAGA Inc., went first this week, announcing a $100 million ad buy, concentrated in seven swing states for the last 2½ weeks of August.
- Harris responded with a $90 million buy, her biggest reservation yet.
- "It is imperative that you define yourselves before the other guys define you," New Jersey Gov. Phil Murphy (D) told Axios. "And do it ASAP, particularly if you have a wall of money."
- "There will be no brownie points if you're sitting on money on November 6," Murphy added.
Republicans and the Trump campaign have dramatically increased their ad spending in recent weeks, closing in on the advantage Democrats have held in ad spending for much of the 2024 election cycle.
- Trump's campaign also is upping its spending after largely relying on affiliated groups earlier in the cycle.
Zoom out: The huge ad buys for August reflect two big factors in this campaign.
- Neither side is hurting for cash. Harris trounced Trump in fundraising last month, but Trump has plenty of outside help to level the field.
- At least three super PACs are in Trump's his corner, and another one — backed by Elon Musk — has gotten the stamp of approval from Trump's campaign.
2. Early voting — with some states collecting ballots in September — has pulled the campaign season forward.
- Democrats realized this four years ago. Republicans — after resisting early voting in 2020 and flip-flopping this year — now are spending like they believe in it.
By the numbers: Harris' team started the month with $377 million cash on hand in its various accounts. Trump's team had $327 million.
- Although their August spending figures are massive, it's unlikely either side is front-loading their spending.
- Most Americans still wait until after Labor Day to really tune into the campaigns.
- September's spending is likely be even greater than August's. And October probably will top both of them.
Go deeper: Behind the Curtain: The Harris plan to redefine herself
