In campaign's final stretch, Biden has big cash advantage over Trump

[October 23, 2020]  By Jason Lange and Grant Smith

WASHINGTON/NEW YORK (Reuters) - Democratic presidential candidate Joe Biden's campaign raised vastly more funds than U.S. President Donald Trump's campaign in early October, leaving the former vice president with a major cash advantage in the final stretch of the campaign.

Biden raised about $130 million during the Oct. 1-14 period, about three times the roughly $44 million raised by Trump's campaign, according to disclosures filed on Thursday with the Federal Election Commission.

With his fundraising advantage, Biden spent more than twice as much as Trump did during the period.

The Democrat's political advertisements have become much more prevalent on American television, with the disclosures showing that in the first two weeks of October, Biden spent at least $127 million on advertising, while Trump spent at least $45 million.

Biden appears poised to outspend Trump in what remains of the race.

With about two weeks to go before the Nov. 3 election, Biden had $162 million in the bank, compared to about $44 million in cash held by the Trump campaign.

President Donald Trump speaks during a campaign rally at Pitt-Greenville Airport in Greenville, North Carolina, U.S., October 15, 2020. REUTERS/Carlos Barria/File Photo

Trump trails Biden in most national public opinion polls but the contest looks closer in a number of states that could determine the winner.

Biden's upper hand in the money race is no guarantee of victory. Trump triumphed in the 2016 election despite being outspent by Democratic candidate Hillary Clinton.

(Reporting by Jason Lange in Washington and Grant Smith in New York; Editing by Raju Gopalakrishnan)

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