Kamala Harris's campaign ended with at least $20 million in debt

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Kamala Harris’s 2024 presidential campaign ended with “at least $20 million in debt,” according to Politico’s California bureau chief, Christopher Cadelago.Cadelago shared on X (formerly Twitter) that as of October 16, Harris’s campaign had about "$118 million in the bank."Donald Trump was elected for a second term, with the Associated Press reporting he had secured 295 Electoral College votes by 5:30 a.m. ET Thursday—25 more than required for victory. Trump also led in Nevada and Arizona, holding 17 Electoral College votes combined, and was on track to win the popular vote.In a Wednesday post, Cadelago wrote: "Kamala Harris's campaign ended with at least $20 million in debt, per two sources familiar. Harris raised over $1 billion and had $118 million in the bank as of Oct. 16."Newsweek has not independently verified the reported $20 million debt. The Harris-Walz campaign was contacted for comment via email early Thursday.Breitbart's Washington bureau chief, Matthew Boyle, also referenced the debt claim, citing an anonymous “Kamala campaign staffer” who said the campaign’s deputy campaign manager, Rob Flaherty, was “shopping around the Kamala fundraising email list” to other campaigns and groups to help recoup funds.According to Federal Election Commission data, the Harris campaign raised $1.009 billion up to October 16, including when it was part of Biden’s campaign before he exited in July, spending around $890 million during that time.By comparison, Trump’s campaign raised $392 million and spent $345 million. As of October 16, Forbes reported the Harris campaign had $118 million on hand, while Trump’s campaign had $36.2 million.Democratic spending on campaign ads, including by the Harris campaign, totaled $1.1 billion for airtime and ad reservations, according to AdImpact.