For one factor, each Mr. Trump and Mr. Biden are elevating cash via joint fund-raising committees, which would not have to file experiences till April. These committees usually switch funds to the campaigns, to pay salaries and purchase promoting time. With out these numbers, the candidates’ whole monetary image will not be completely 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 staff reported elevating a mixed $42 million in January throughout the committees backing his re-election effort, with a mixed whole of $130 million readily available on the finish of January.
The D.N.C. alone reported $24 million readily available on the finish of January.
Mr. Trump, alternatively, continues to be keeping off a main challenger, Nikki Haley. Till he wins the nomination, he can not increase cash in tandem with the Republican Nationwide Committee. (The R.N.C. on Tuesday reported $8.7 million readily 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 expensive. Final yr, committees backing him spent at the least $50 million on authorized bills, filings present, and people prices are prone to balloon as he prepares for potential trials this yr.