The president’s political operation continues to stockpile cash reserves, saying it had $130 million cash on hand across all entities as of the end of January, up from $117 million at the end of December. The Biden campaign
got off to a frugal start but has staffed up and spent more on television and digital advertising over the past few months.

When Trump was running as an incumbent four years ago, his operation
raised just over $60 million and reported $200 million cash on hand across his assorted groups at this point in the election cycle.

Trump’s 2024 campaign has not yet released its January fundraising totals. And those numbers for Trump will not be comparable to what he brought in as an incumbent. Though the former president is the strong front-runner for the Republican nomination, his campaign has not yet merged its fundraising operation with the RNC as he still faces former U.N. Ambassador Nikki Haley in the GOP primary.

In a prepared statement, Julie Chavez Rodriguez, Biden’s campaign manager, characterized the Biden campaign’s January haul as “an indisputable show of strength to start the election year.”