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World News

Democrat Biden and his allies had $466 million at end of August: official

Democratic U.S. presidential nominee and former Vice President Joe Biden delivers remarks regarding the Supreme Court at the National Constitution Center in Philadelphia, Pennsylvania, U.S., September 20, 2020. REUTERS/Mark Makela

WASHINGTON/NEW YORK (Reuters) - Democratic U.S. presidential nominee Joe Biden and his party allies increased their cash holdings to $466 million at the end of August, a campaign official said on Sunday, as President Donald Trump’s campaign reported that its cash pile was little changed from a month earlier.

The figures reported by each side suggests that Biden, a former vice president who is leading Trump in most opinion polls, could have a financial advantage over Trump as the two sides prepare for the Nov. 3 presidential election.

While the Trump campaign started the year with a considerable cash advantage, Biden has closed the gap as Democratic donors consolidated behind him and the Trump campaign has burned through its money more quickly.

On Friday, Trump campaign spokesman Tim Murtaugh said the president’s re-election campaign and its Republican Party allies would be reporting $325 million in cash on hand, considerably less than the figure reported by the Biden campaign official, who asked not to be named.

Neither side has filed all the federal disclosures that will detail the finances of allied fundraising committees. On Sunday, the Trump campaign said it had $121 million in cash at the end of August, roughly the same level as a month earlier.

The cash stockpile of Biden and party allies compares with $294 million that the campaign had announced in early August.

Reporting by Jason Lange in Washington, Grant Smith in New York and Trevor Hunnicutt in Wilmington, Delaware; Editing by Muralikumar Anantharaman and Peter Cooney

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