Harris’ cash funds ad blitz as Elon Musk transfers big check to Republicans, new filings show

CNN
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Kamala Harris entered September — and the final weeks of the presidential campaign — with far more campaign cash than Donald Trump, new federal filings show, after setting a local fundraising record in her first full month as the Democratic presidential candidate.

Fundraising by Democratic national committees focused on the congressional battle also increased — with the party arm working to turn the U.S. House blue, collecting more than double the amount raised by its Republican counterpart in August. However, the GOP’s campaign arm reported a six-figure donation from billionaire Elon Musk last month as the party tries to defend its slim majority in the chamber.

And with Democrats riding a wave of donor enthusiasm, the latest filings with the Federal Election Commission also showed some key outside groups stepping up, while a pro-Trump super PAC has sparked a wave massive independent spending to help Republicans close the gap. .

Harris completely erased the financial advantage that Trump briefly gained over the summer, when the former president outspent President Joe Biden in two of the last three months before Biden dropped out of the race in late July. The vice president paid nearly $190 million directly to her campaign in August — more than four times the $44.5 million the Trump campaign said was in its main campaign account that month.

The Harris campaign also far outspent the Trump campaign in August, consuming about $174 million. He invested most of that in advertising — $135 million — as he wondered about introducing the new Democratic nominee to voters in an abbreviated program. About $6.4 million went to salary expenses and $4.5 million to text messaging.

By comparison, Trump’s campaign spent just $61 million last month, with the lion’s share — more than $47 million — going to media buys.

Despite the spending numbers, Harris’ main campaign account entered September with $235 million in cash on hand, far exceeding the $135 million left in Trump’s coffers, the most recent FEC records show.

Late Friday night filings only provide a snapshot of candidates’ financial strengths.

The Trump and Harris campaigns are aligned with a number of committees that file disclosure reports in a separate schedule. Harris’ broader network said it raised a combined $361 million in August, nearly triple the $130 million the Trump operation brought in.

Harris’ fundraising dominance has helped give Democrats a significant edge in ad bookings this fall, including in key battleground states. And the vice president and his allies are overwhelming the former president’s social media presence. Democrats have spent $137 million on digital platforms since Harris became the party’s front-runner in late July — more than triple Republican spending, according to a CNN analysis of data compiled by ad tracking firm AdImpact.

Friday’s campaign reports show the Democratic Congressional Campaign Committee — the arm of the party involved in House races — significantly outpaced its GOP counterpart, the Republican National Campaign Committee, $22.3 million to $9.7 million.

The DCCC also entered September with more money on hand, from $87.3 million to $70.8 million for the NRCC, funds that could be critical in a highly competitive battle for Parliament, where Republicans hold a narrow majority.

One major donor looking to help House Republicans stem the Democratic cash tide: billionaire Elon Musk, who shows he gave the GOP’s campaign arm $289,100 in August, the largest federal donation disclosed by Musk so far in this cycle as he ramps up his. Republican giving.

The tech mogul — the world’s richest person — endorsed Trump in July. And in another sign of his growing political clout, a super PAC Musk helped form recently ramped up its activity in the presidential contest, spending more than $40 million since mid-August. That includes more than $22 million for lobbying efforts on Trump’s behalf, helping fill a critical role. The Trump campaign, as CNN previously reported, has opted to outsource much of its field operations to outside organizations.

Party committees focused on Senate races raised comparable amounts last month.

The National Republican Senatorial Committee brought in $19.1 million and its Democratic counterpart $19.2 million. Each spent more than it raised, with the Democratic Senatorial Campaign Committee spending $31.6 million and the NRSC $26.5 million.

Democrats narrowly control the chamber but face an unfavorable landscape this year as they defend more seats in states that previously supported Trump.

Harris’ fundraising performance has put pressure on a network of outside groups backing the former president to help close the money gap.

MAGA Inc., a pro-Trump super PAC, spent more than $88 million in August alone on independent expenditures on behalf of the former president’s campaign, funding a blitz of TV ads, according to its monthly filing. That’s more than MAGA Inc. spent. in any month this year and about twice as much as he spent in July.

The super PAC last month received a total of $25 million from a number of wealthy backers, including $10 million from Wisconsin billionaire Diane Hendricks and $5 million from billionaire financier Paul Singer. It ended August with $59.4 million in cash.

On the Democratic side, FF PAC, a pro-Harris super PAC, reported raising nearly $37 million last month, with $30 million coming from Facebook co-founder and billionaire investor Dustin Moskovitz — by far the largest federal election donation. cycle. The super PAC spent more than $77 million in August, including nearly $62 million in independent spending to benefit the vice president’s campaign.