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

President TrumpDonald John TrumpBubba Wallace to be driver of Michael Jordan, Denny Hamlin NASCAR team Graham: GOP will confirm Trump's Supreme Court nominee before the election Southwest Airlines, unions call for six-month extension of government aid MORE’s campaign outraised presumptive Democratic nominee Joe BidenJoe BidenJoe Biden looks to expand election battleground into Trump country Trump puts Supreme Court fight at center of Ohio rally Special counsel investigating DeVos for potential Hatch Act violation: report 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 McDanielNational Urban League, BET launch National Black Voter Day Trump officials defend president's coronavirus response amid Woodward revelations Sunday shows - Trump team defends coronavirus response 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.”