Trump campaign's coffers shrink in September; Biden has cash advantage

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WASHINGTON/NEW YORK (REUTERS) – President Donald Trump’s re-election coffers shrank in September as he fell behind Democratic challenger Joe Biden in the campaign’s money race, putting him at a disadvantage in the final weeks before the Nov 3 election.

In a financial disclosure filed on Tuesday night (Oct 20) with the Federal Election Commission, the Trump campaign said it had about US$63 million (S$85.5 million) in the bank at the end of September after spending about US$139 million that month.

A month earlier, the Trump campaign reported having US$121 million in cash.

Biden’s campaign has yet to report its cash holdings at the close of September. But the former vice president’s campaign said this month that together with the Democratic Party, it had US$432 million in the bank.

Trump and his Republican Party had just US$251 million in the bank, his campaign manager said this month.

Biden has held a significant lead over Trump in national polls for months, although Reuters/Ipsos polling shows a somewhat closer race in the battleground states likely to decide the winner.

Trump has fallen far behind the Democrat in recent months at fundraising and spending. Trump spent less than US$56 million on television and radio advertising in September, compared with nearly US$148 million by Biden, according to Advertising Analytics LLC, a market research company.

Including online ads, the president’s campaign spent at least US$91 million on advertising in September, according to the disclosures filed on Tuesday.

Bastion Balance Seoul.