Harris-Trump showdown: VP continues to dominate this crucial campaign metric days before 2024 election

According to the latest figures the two major party presidential campaigns filed with the Federal Election Commission, Harris is reported hauling in $97 million during the first half of October.

That far outpaced the $16 million the Trump campaign said it raised during the first half of this month.

The new filings also spotlight that the Harris campaign continues to vastly outspend the Trump campaign. During the first 16 days of October, the Democratic presidential nominee's campaign outspent Trump $166 million to $99 million - with paid media the top expenditure for both campaigns.

However, Harris finished the reporting period with more cash in her coffers - reporting a cash-on-hand of $119 million as of Oct. 16, with Trump at $36 million. When joint-fundraising committees are also included, Harris holds a $240 million to $168 million cash-on-hand advantage.

Biden enjoyed a brief fundraising surge after his disastrous performance in his late June debate with Trump, as donors briefly shelled out big bucks in a sign of support for the 81-year-old president.

However, Biden's halting and shaky debate delivery also instantly fueled questions about his physical and mental ability to serve another four years in the White House and spurred a rising chorus of calls from within his own party for the president to end his bid for a second term. The brief surge in fundraising did not last and, by early July, it began to significantly slow down. 

Biden bowed out of the 2024 race on July 21, and the party quickly consolidated around Harris, who instantly saw her fundraising soar, spurred by small-dollar donations. Harris has vastly outpaced Trump in fundraising since taking over at the top of the Democrats' ticket.

This is not the first time Trump's faced a fundraising deficit. He raised less than 2016 Democratic presidential nominee Hillary Clinton in his White House victory and was outraised by Biden four years ago in his re-election defeat.

However, he emphasized that "we absolutely have the resources that we need to get our message out to all the voters that we're talking to and feel very comfortable that we're going to be able to see this campaign through, and we're going to win on Nov. 5."

Fundraising is a key measure of a candidate's popularity and their campaign's strength. The money raised can be used to - among other things - hire staff, expand grassroots outreach and get-out-the-vote efforts, pay to produce and run ads on TV, radio, digital and mailers, and for candidate travel.