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Election 2020
The Associated Press

Biden raises over $360 million in August, shattering record

Democratic presidential candidate former Vice President Joe Biden
Democratic presidential candidate former Vice President Joe Biden stands on stage after Democratic vice presidential candidate Sen. Kamala Harris, D-Calif., spoke during the third day of the Democratic National Convention on Aug. 19, 2020, at the Chase Center in Wilmington, Del.
Carolyn Kaster | AP Photo file

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Former Vice President Joe Biden raised $364 million for his election effort in August, a record-shattering sum that will give the Democrat ample resources to compete in the final two months of the campaign.

Biden struggled to raise money during the Democratic primary. But ever since he became the apparent nominee last spring, money has poured into his campaign. In July, he all but closed a huge cash-on-hand advantage enjoyed by President Donald Trump.

The massive August haul speaks to the enthusiasm among Democrats to oust Trump from office.

The new flood of contributions, which came from grassroots supporters as well as deep-pocketed donors, should alleviate any lingering concern over whether Democrats will be able to flood the airwaves with advertising in key battleground states that will ultimately decide the outcome of the election.

"These numbers humble me," Biden wrote in a message to supporters. “Even in a global recession, working families set aside some money to power this campaign, and a little bit added up in a big way.”

Trump has yet to release his fundraising figures for the month of August.

After amassing a massive war chest over the past three years, the Trump campaign said recently that they were conserving money for after Labor Day. Recently, they went mostly dark on the airwaves. While they placed additional advertising this week, Trump is still getting outspent by Biden by nearly double, advertising data shows.

Democratic officials attribute the amount raised to antipathy toward Trump, the selection of Sen. Kamala Harris as Biden's vice presidential nominee and a successful convention that showcased Biden's empathy in contrast to Trump.

“Donald Trump is the greatest fundraising tool in the history of politics," said DNC finance Chairman Chris Korge.

The money was raised in conjunction with the Democratic National Committee. While candidates face a $2,800 limit per election, Biden can raise far more than that through a joint fundraising committee with the DNC that allows him to collect individual checks worth upward of $600,000.

The money is split between his campaign, the DNC and state parties.

The haul also gives outside groups supporting Biden's campaign additional leeway to direct their money towards other efforts that could give Democrats an edge in what's expected to be a tight election, instead of just giving Biden advertising air cover.

“Because Biden has been so successful raising money, it has allowed us to move resources into vote by mail and get out the vote programs,” said Guy Cecil, chairman of Priorities USA, the largest Democratic super PAC.