President Joe Biden entered the election year with an early financial edge over Donald Trump’s presidential campaign, new filings show – a bright spot for an incumbent with low approval ratings who is girding for a bruising general election rematch with his 2020 foe.
Biden had nearly $46 million in cash on hand, compared with $33 million amassed by Trump, who is still working to dispatch his lone, remaining major rival for the GOP nomination, former South Carolina Gov. Nikki Haley.
But the reports underscore the challenges ahead for the president: Despite facing no real threats to his nomination, Biden has not built the cash reserves that would allow him to swamp Trump’s campaign, even as the former president faces mounting legal woes and Haley’s staying power in the race.
