NYT:

The political fund-raising picture in the final month of the midterm elections is something of a Rorschach test.

If you’re a Democrat, new election filings show many of the party’s Senate and House nominees raising more than their Republican rivals. This campaign cash is the most important money in politics, because candidates can control it directly and buy ads at cheaper rates.

If you’re a Republican, the same filings show that the G.O.P. has a significant advantage in money from super PACs and other outside groups tied to Elon Musk, President Trump and the party’s big donors. In many races, this edge has allowed the party to club Democrats with advertising even though Republican groups have to pay more for ads.

In fact, both of these perceptions are true. And for Republicans, the ability to hold their own — at least — in the midterm money fight is a rare bright spot as the party faces a gloomy political environment. This financial resilience has allowed Republicans to put up a robust defense of the Senate, in particular, as they try to keep control of Congress….