Combination images of Democratic presidential nominee Joe Biden and President Trump. Photo: Alex Wong/Getty Images/Spencer Platt/Getty Images

Democratic presidential nominee Joe Biden's campaign team released an ad on Twitter late Sunday in response to the New York Times' explosive report on President Trump's income tax contributions.

Why it matters: The ad and accompanying tweet stating how much tax American workers like nurses and teachers pay compared to the $750 in federal income taxes the NYT said Trump paid in 2016 and again in 2017 marks the first official response by the Biden campaign to the report, which Trump called "fake news." The ad comes ahead of the first presidential debate on Tuesday.

Go deeper:

Go deeper

Updated Oct 21, 2020 - Politics & Policy

Biden has huge cash advantage over Trump as Election Day nears

Democratic presidential nominee Joe Biden in Wilmington, Del., on Monday. Photo: Drew Angerer/Getty Images

Democratic presidential nominee Joe Biden had $177.3 million in the bank at the end of September, per the latest Federal Election Commission filings.

Why it matters: President Trump's re-election campaign reported having $63.1 million in the bank at the end of last month, as campaigning enters the final stretch ahead of Election Day on Nov. 3.

Updated Oct 21, 2020 - Politics & Policy

Trump campaign reports shrinking cash haul to FEC

President Trump during a campaign rally at the Erie International Airport on Wednesday in Erie, Pa. Photo: Noah Riffe/Anadolu Agency via Getty Images

President Trump's re-election campaign had $63.1 million in the bank by the end of September after spending some $139 million that month, filings to the Federal Election Commission Tuesday night show.

Why it matters: The Trump campaign reported having $121 million in cash and $900,000 in debts the previous month. Trump's campaign and the shared Republican committees had just over $251 million at the start of October.

Dave Lawler, author of World
7 mins ago - World

Special report: Trump's hopes of nuclear deal with Putin come down to the wire

Illustration: Lazaro Gamio/Axios

A surprise offer from Vladimir Putin has the U.S. and Russia once again circling a potential pre-election nuclear deal.

The big picture: The last treaty constraining the U.S. and Russia, New START, is due to expire on Feb. 5, 2021, two weeks after the next U.S. presidential inauguration. For the first time since the height of the Cold War, the nuclear guardrails could come off.