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Trump outraises Biden in July, surpasses $1 billion for the cycle

President TrumpDonald TrumpCaitlyn Jenner on Hannity touts Trump: 'He was a disruptor' Ivanka Trump doubles down on vaccine push with post celebrating second shot Conservative Club for Growth PAC comes out against Stefanik to replace Cheney MORE’s campaign outraised presumptive Democratic nominee Joe BidenJoe BidenCaitlyn Jenner on Hannity touts Trump: 'He was a disruptor' Argentina launches 'Green Mondays' campaign to cut greenhouse gases On The Money: Federal judge vacates CDC's eviction moratorium | Biden says he's open to compromise on corporate tax rate | Treasury unsure of how long it can stave off default without debt limit hike MORE’s campaign by $25 million in the month of July and surpassed the $1 billion mark for the 2020 cycle.

The Trump campaign and Republican National Committee (RNC) combined to raise $165 million in July, compared with $140 million for Biden and the Democratic National Committee.

That’s the best month of fundraising for Trump and the RNC this cycle. The Trump campaign boasted about plowing its money into its field game, saying its 1,500 field staffers are double Biden’s.

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"With 90 days until victory, our teams and supporters are in overdrive working to re-elect President Trump and Republicans up and down the ballot," said RNC Chairwoman Ronna McDanielRonna Romney McDanielNew York Post deletes story alleging Kamala Harris book given to migrant children Virginia GOP reverses course, will let those with religious obligations cast absentee votes for Saturday convention The Hill's Morning Report - Presented by Facebook - GOP makes infrastructure play; Senate passes Asian hate crimes bill MORE. "From Maine to Nevada, the enthusiasm we are seeing from voters only continues to grow as Americans know the critical choice they face in November – a lawless cancel culture under Joe Biden, or a Great American Comeback under President Trump."

However, the campaigns are effectively tied in cash on hand with 90 days to go before Election Day.

The Biden campaign said it has $294 million in the bank, an increase of $50 million from last month. The Trump campaign is sitting on $300 million.

Biden’s team announced Wednesday it has laid out $280 million in television and digital advertising reservations for the stretch run, which is about double the Trump campaign’s current reservations. 

“The Biden campaign is on the march, building off the incredible momentum from this summer with another lights-out fundraising month, banking another $50 million for the final stretch to election day,” said campaign manager Jen O’Malley Dillion. “Fueled by our growing community of grassroots supporters, we are rapidly expanding our operations around the country to create many paths to the 270 electoral votes we need to defeat Donald Trump this fall and win the battle for the soul of our nation.”