The Republican National Committee (RNC) pulled in more than $55 million last month, according to figures shared first with The Hill, marking the party’s best July fundraising haul on record. 

The $55.3 million haul brings the committee’s total cash on hand to $109.9 million, the most in party history. July also marked the RNC’s best-ever month of online fundraising, and a two-fold increase in the party’s online fundraising from 2016. 

The RNC and the Trump campaign, along with its affiliated groups, brought in a combined $169.3 million in July, besting the Democratic National Committee (DNC) and former Vice President Joe Biden’s campaign by nearly $30 million.

Across the 2020 election cycle, the RNC and Trump’s reelection operation have raked in a staggering $1.1 billion. They ended July with combined funds exceeding $300 million. 

The July fundraising surge is an encouraging sign for the GOP, coming in a month when public polling showed Biden pulling ahead of Trump both nationally and in key battleground states. Money alone doesn’t win elections, but Republicans touted the fundraising haul as a sign of momentum for the president’s reelection bid.

“Grassroots support for President Trump continues to grow as he leads our nation through a pandemic, upholds law and order, fights for the security of our votes and the integrity of our elections, and ushers in the Great American comeback,” RNC Chair Ronna McDaniel said in a statement to The Hill. 

“This record-breaking fundraising is fueling our unprecedented data-driven ground game operation—a sophisticated infrastructure that the Democrats simply cannot compete with, and one that will deliver victories up and down the ballot on Nov. 3.”

While the Trump campaign and the RNC outraised Biden and the DNC in July, the Republicans’ once-yawning cash-on-hand advantage has narrowed considerably. 

The Biden campaign and the DNC are expected to report some $294 million in cash reserves when they file their July fundraising reports on Thursday, $50 million more than their combined balance at the end of June when the Trump campaign and the RNC held a roughly $51 million cash-on-hand advantage over the Democrats.