The 30-second ad, set to run in Oregon and other battleground states, calls out Cheney on statements he had "no financial interest in Halliburton of any kind."
"The truth," the ad states in part, "As vice president, Dick Cheney received $2 million from Halliburton. Halliburton got billions in no bid contracts in Iraq. Dick Cheney got $2 million. What did we get?"
In a conference call with reporters Friday, Kerry strategist Tad Devine said lingering questions about Cheney's connections to the company resonate with American voters.
"We welcome a discussion of Halliburton," he said, adding it was indicative of the administration's policy of supporting special interests over middle-income Americans.
The Bush administration "has stood against the American people and that's the debate we're going to win."
2014: The Year in Music [PHOTOS]