Harris Vs. Trump: Vice President Outpaces GOP Rival In August Fundraising As Presidential Race Heats Up

Ahead of the November election, Kamala Harris has significantly outpaced Donald Trump in fundraising for the month of August.

What Happened: Harris’s presidential campaign and the Democratic Party raised $361 million in August, according to Reuters on Friday. This leaves Harris with $404 million in cash on hand at the start of September.

Trump’s campaign and the Republican Party raised $130 million in August, leaving them with $295 million cash on hand by the end of the month, Trump’s team announced on Wednesday.

The two candidates are expected to spend over $1 billion in this campaign, breaking previous records, as per regulatory filings. Both campaigns are investing heavily in advertisements and get-out-the-vote operations in key battleground states.

The fundraising totals, closely monitored by U.S. election regulators, are seen as indicators of campaign momentum ahead of the Nov. 5 election. These totals do not include funds raised by outside groups supporting each candidate.

A significant test for both candidates will be their televised debate on Tuesday, the first since President Joe Biden endorsed Harris as his successor on July 21.

See Also: Trump Shaken By Kamala Harris, Says Anthony Scaramucci But Calls Him An Adaptive Guy: ‘He’ll Find The Right Tool To Strike At Her’

Harris’ campaign noted a surge in new donors, with three-quarters of the 1.3 million new contributors in August being first-time donors. Additionally, over 60% of August donors were women, and nearly 20% were registered Republicans or independents.

Despite the fundraising success, polling averages indicate a tight race in critical states like Pennsylvania, Michigan, and Georgia.

Why It Matters: Recent polling data shows Harris leading in key swing states for the first time, suggesting a potential narrow victory in the upcoming election. This is a significant development considering the close race dynamics. However, Trump still holds a lead among veterans and active service members, although his support has declined compared to 2016.

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This story was generated using Benzinga Neuro and edited by Pooja Rajkumari