Biden holds cash edge as Trump, Haley burn through funds
Former President Trump's campaign spent more than it raised in January as his legal battles continue to drain his coffers, according to his FEC filing.
Why it matters: Trump ended the month with about $30 million in cash on hand, while President Biden's campaign closed January with almost $56 million in cash on hand, adding to the president's financial edge as he appears headed for a rematch with Trump.
Details: Trump's Save America leadership PAC ended January with $6 million and reported spending $2.9 million on legal expenses, per Politico.
- The main super PAC behind his bid, MAGA Inc., had $19.7 million.
- Biden's re-election campaign said it had $130 million in the bank at the end of January across its committees.
The Democratic National Committee also maintained its cash advantage over its Republican counterpart.
- The DNC raised $17.4 million in January and ended the month with $24 million in cash on hand.
- The Republican National Committee raised $11.6 million and closed the month with $8.7 million in cash on hand.
Former UN Ambassador Nikki Haley's campaign reported a strong fundraising month in January, but she also burned through cash.
- Haley raised more than $11.5 million and ended the month with $13 million on hand. She reported spending $13 million last month.
- The super PAC supporting her underdog bid also spent aggressively last month. It ended January with $2 million in cash on hand.
What to watch: Both Trump and Biden's financial outlooks will become clearer when they file their respective joint fundraising FEC reports in April.
Go deeper: Defiant Haley won't quit GOP primary after South Carolina