For one factor, each Mr. Trump and Mr. Biden are elevating cash via joint fund-raising committees, which don’t have to file stories till April. These committees usually switch funds to the campaigns, to pay salaries and purchase promoting time. With out these numbers, the candidates’ complete monetary image shouldn’t be solely clear.
Extra broadly, the F.E.C. filings on Tuesday level to variations in circumstances.
Mr. Biden, the incumbent, is already elevating cash alongside the Democratic Nationwide Committee, a celebration juggernaut that may construct out a discipline operation for his re-election bid. On Tuesday, his group reported elevating a mixed $42 million in January throughout the committees backing his re-election effort, with a mixed complete of $130 million available on the finish of January.
The D.N.C. alone reported $24 million available on the finish of January.
Mr. Trump, however, remains to be warding off a major challenger, Nikki Haley. Till he wins the nomination, he can’t elevate cash in tandem with the Republican Nationwide Committee. (The R.N.C. on Tuesday reported $8.7 million available on the finish of January.)
And, maybe extra critically, committees backing Mr. Trump are spending thousands and thousands every month on authorized bills.
Mr. Trump faces 4 legal indictments together with civil instances, that are proving pricey. Final yr, committees backing him spent no less than $50 million on authorized bills, filings present, and people prices are more likely to balloon as he prepares for potential trials this yr.