Former Vice President Joe Biden, the Democratic National Committee, and affiliated joint fundraising committees entered the month of September with $466 million cash on hand, a massive stockpile that will aid the Democratic nominee's effort to unseat President Donald Trump in November, a Biden campaign official confirmed to ABC News on Sunday evening.
That sum is over $140 million more than President Trump, the Republican National Committee and affiliated joint fundraising committees have on hand, which at the beginning of September was $325 million, according to Trump campaign communications director Tim Murtaugh.
"45 days out, @TeamTrump is in strong position. Combined w/ @GOP we'll show $325M cash on hand, @realDonaldTrump energetically campaigning, huge volunteer army has made 102M voter contacts & we'll have 2X or 3X the cash as in 2016. Enthusiasm is with Trump. Biden excites no one," Murtaugh tweeted on Friday.
The rapid closing of the money gap between the two campaigns has been remarkable in recent months, considering the substantial war chest that Trump started this cycle with.
Biden's massive coffers going into September were due in part to a record-shattering August that saw the joint Democratic effort raise over $365 million. Trump and the GOP brought in $210 million in August.
President Trump’s reelection campaign, the RNC, and their two joint fundraising vehicles have touted a prolific fundraising prowess throughout the 2020 election cycle, together amassing a whopping $1.3 billion just from January 2019 through the end of August this year. They have already surpassed the $1 billion goal they had set for the election cycle.
And back in April, the Biden campaign and the DNC were more than $180 million behind the president's reelection campaign and the RNC in cash on hand.
Much of that fundraising advantage has disappeared in recent months, however, as Team Trump burned through more than $800 million of that through the end of July and Biden repeatedly outraised the president over the summer, including by more than $150 million during the month of August.
Going into the month of August, the Biden campaign and the DNC were only $6 million behind the Trump campaign and the RNC in cash on hand, according to campaign announcements and disclosure filings submitted to the Federal Election Commission.