The latest national poll in the 2024 presidential race between Vice President Kamala Harris and former President Donald Trump shows a close competition. However, when it comes to campaign fundraising, Vice President Harris is in the lead. Harris raised $97 million in the first half of October, while the Trump campaign reported raising $16 million during the same period. When considering affiliated fundraising committees, Trump narrowed the gap but was still behind with $176 million to Harris’s $97 million.
The new financial filings also reveal that the Harris campaign is outspending the Trump campaign significantly. During the first 16 days of October, Harris spent $166 million compared to Trump’s $99 million, with the majority of expenses going towards paid media. Harris ended the reporting period with more cash on hand, reporting $119 million as of October 16, while Trump had $36 million. Including joint-fundraising committees, Harris holds a cash-on-hand advantage of $240 million to Trump’s $168 million.
Earlier in the year, President Biden’s campaign and the Democratic National Committee (DNC) had a fundraising lead over Trump and the Republican National Committee (RNC). However, Trump and the RNC surpassed Biden and the DNC by raising $331 million compared to $264 million in the second quarter of 2024 fundraising. Biden’s fundraising briefly surged after a poor debate performance in late June, but questions about his capabilities led to a slowdown in donations. Biden exited the race on July 21, and the party rallied around Harris, whose fundraising saw a significant increase.
Trump has faced fundraising deficits before, being outraised by both Hillary Clinton in 2016 and Biden in 2020. RNC chair Michael Whatley acknowledged the Democrats’ financial advantage but expressed confidence in the resources available to the Trump campaign to reach voters effectively.
Fundraising is a crucial measure of a candidate’s popularity and campaign strength. The funds raised are used for various purposes such as hiring staff, expanding outreach efforts, advertising on different platforms, and supporting candidate travel. The financial aspect of a campaign plays a significant role in shaping the outcome of the election.
For more updates on the 2024 campaign trail and exclusive interviews, visit our Fox News Digital election hub. Paul Steinhauser, a politics reporter based in New Hampshire, continues to cover the latest developments in the presidential race.
