“Trump’s complicated web of political committees spent roughly $217 million through March, with that spending split roughly equally between fundraising expenses, legal bills and actual campaigning.”

“But the same network of groups brought in a bit shy of $220 million in new contributions. Trump is hardly broke — he had $45 million in his campaign account at the end of March — but the high expense rate significantly limited his ability to build up cash.”

“Biden had nearly double the cash on hand of Trump in their respective campaign accounts. But the president’s advantage was actually even bigger: More money was still in the Biden pipeline through joint fundraising committees — groups that raise funds for multiple campaigns or committees — than in Trump’s.”