Trump seeks to ramp up big, small dollar fundraising citing money crunch
Donald Trump
US President Donald Trump is set to embark on a heavier fundraising schedule in coming weeks as his re-election campaign faces a possible cash crunch that has forced it to pull back television advertising in some crucial states.
Trump's campaign started the year with more than 10 times as much money as Democratic rival Joe Biden. The former vice president, however, closed the gap as Democratic donors consolidated behind him and the Trump campaign burned through its cash more quickly.
Biden, who leads Trump in most national and battleground state polling ahead of the November 3 election, had about $99 million in the bank to Trump's $121 million by the end of July, according to disclosures by each side's campaign. Including money raised by the candidates' national parties, Biden outraised Trump nearly $365 million to $210 million in August.
Trump this week said his campaign had to spend millions on advertisements earlier this year to fight the impression that he mishandled the coronavirus pandemic, which has killed more than 191,000 Americans and devastated the US economy.
A couple of donors questioned whether the campaign's purchase of a multi-million dollar ad during the Super Bowl in February so far ahead of the election, as well as ads in the heavily Democratic Washington, DC market in June, were more about Trump's vanity than strategy.
Eberhart said some of the campaign's recent actions, including buying ads in few-day increments as opposed to weekly and going dark in some states for a stretch, suggested the campaign now faces a cash pinch.
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Biden is poised to outspend Trump on ads in the final weeks of the race. The Democrat's campaign has booked about $181 million in television and radio ad spending between September and November, compared to $156 million by the Trump campaign, according to ad tracking firm Advertising Analytics.
The current bookings show Biden will spend more than Trump in battleground states North Carolina, Pennsylvania, Michigan, Arizona and Wisconsin. Trump is slated to outspend Biden in Florida and Ohio.
In the final stretch of the race, the Trump campaign will increase its outreach to donors of all means, advisers said.
Trump's weekend agenda includes meeting with deep-pocketed donors on Saturday in Washington and on Sunday in Las Vegas, where an event is expected to raise $4 million.
The president has resisted hosting virtual fundraisers, which Biden and Democrats have relied on as an alternative to in-person gatherings during the pandemic.