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Trump says he'll use his own money to fund his campaign if needed

Trump tours battleground states in sprint to election
Trump tours battleground states in sprint to Election Day 02:44

President Trump on Tuesday said he'll use personal funds to help his reelection campaign if necessary. 

Both Mr. Trump and Joe Biden have built massive war chests, but Biden, along with the Democratic National Committee and joint fundraising efforts raised $364.5 million in August — a record one-month haul. The Trump campaign has not yet announced its August fundraising totals. On Tuesday, the president blamed the coronavirus pandemic and the media for his campaign's high spending so far. 

"Because of the China Virus, my Campaign, which has raised a lot of money, was forced to spend in order to counter the Fake News reporting about the way we handled it (China Ban, etc.). We did, and are doing, a GREAT job, and have a lot of money left over, much more than 2016...Like I did in the 2016 Primaries, if more money is needed, which I doubt it will be, I will put it up!" the president tweeted.

Federal Election Commission records show the president's spending in the 2016 campaign cycle included money to his businesses and family members for expenses related to events and travel costs.

Trump campaign manager Bill Stepien told reporters Tuesday he is now "carefully managing" the campaign's budget. Stepien came on board this summer, replacing former campaign manager Brad Parscale. 

Stepien brushed aside the reports of a cash shortfall and said from now until November 3, the Trump team will have more to spend than it did during the same period in 2016. 

"We're very comfortable and confident in where we're spending and how much we're going to have down the stretch," Stepien said.  

The Trump campaign is also launching a new ad campaign called "The Great American Comeback" and will air ads starting today in North Carolina, Georgia, Florida, Wisconsin, Minnesota and Michigan, Stepien said.

In 2016, extensive media coverage of Mr. Trump's campaign raised his profile. 

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