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

President TrumpDonald TrumpPoll: 73 percent of Democratic voters would consider voting for Biden in the 2024 primary Biden flexes presidential muscle on campaign trail with Virginia's McAuliffe Has Trump beaten the system? MORE’s campaign outraised presumptive Democratic nominee Joe BidenJoe BidenBiden authorizes up to 0M for Afghan refugees Poll: 73 percent of Democratic voters would consider voting for Biden in the 2024 primary Biden flexes presidential muscle on campaign trail with Virginia's McAuliffe 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 McDanielFormer Detroit police chief takes step toward gubernatorial run Whitmer has raised .5 million so far in 2021 Former Trump campaign adviser leaving GOP in protest 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.”