President Bush and John Kerry began October neck and neck in campaign cash, each with just under half of the $75 million in government money they received to cover campaign costs.
Bush has one financial advantage: The Republican National Committee has millions more left than its Democratic rival does to spend in the presidential race.
As of Oct. 1, the Republican National Committee had spent only $346,000 of the roughly $16 million it can use in coordination with Bush’s campaign, according to a monthly finance report the party committee filed Wednesday with the Federal Election Commission.
In addition to the coordinated spending, the RNC can spend unlimited amounts supporting Bush independent of his campaign. In all, the national committee had $71 million on hand as of Oct. 1. It spent nearly $57 million last month, about half on ads, and raised $34.5 million.
The Democratic National Committee started October with about $42 million in the bank. In September, the DNC spent $77 million and raised about $63 million. Its coordinated expenditures totaled nearly $7 million as of Sept. 30.
Bush spent about $44 million in September according to his monthly FEC report. More than two-thirds of Bush’s September spending, about $32 million, went to an admaking firm, Maverick Media.
Kerry spent about $26 million last month, bringing his general-election spending total to about $40 million.
Both candidates finished September with about $37 million on hand.
Bush and Kerry each accepted full government funding for their general-election campaigns, blocking them from using private money to cover new campaign costs after they were nominated at their party conventions.
Kerry, nominated by the Democrats roughly a month before Bush’s Sept. 2 nomination, has had to stretch his $75 million a month longer than Bush.
Some of their September spending may be benefiting them into this month; campaigns often reserve ad time weeks ahead as the election approaches.
Though fund raising for their campaign costs has ended, both candidates can still raise limited contributions for special funds to cover their legal and accounting costs, which will also include any recount expenses.
Bush’s legal fund had $8.2 million on hand as October began, its monthly report showed. Kerry’s total was not immediately available.
In addition to the September reports due at midnight Wednesday, both candidates must file reports Thursday with the FEC covering the first half of October.