WASHINGTON — President Donald Trump hauled in $25 million more than Democratic challenger Joe Biden in July, ending a stretch of back-to-back months where the former vice president topped the incumbent president in campaign fundraising.
But for the first time, the two candidates have about the same amount of money left to spend with now less than 90 days until the Nov. 3 election.
The Trump campaign, the Republican National Committee and their joint fundraising committees collectively raised $165 million in July, according to the campaign, bringing the president's overall fundraising mark to $1.1 billion in the 2020 election cycle. The campaign said it was a monthly fundraising record for Trump, eclipsing any month during his 2016 campaign as well.
The joint effort of the Biden campaign, the Democratic National Committee and their fundraising committees raised $140 million in July, the Biden campaign reported, which is $1 million less than it raised in June.
"The President’s support continues to increase while Joe Biden just posted a down fundraising month from his basement," Trump campaign manager Bill Stepien said in a statement.
However, the Biden campaign boasted $294 million cash on hand, $50 million more than its balance after June, erasing the president's considerable advantage that has spanned the entire race.
The Trump campaign said it has a warchest of $300 million still to spend. The Trump campaign had $51 million more on hand than Biden after June. That was after Biden outraised Trump by $10 million in June, $141 million to $131 million.
Biden campaign manger Jen O’Malley Dillon called it "another lights-out fundraising month, banking another $50 million for the final stretch to election day.” She said 97% of Biden's donations came from "grassroots donors" and the average online contribution was $34.77.
For months, Trump has trailed in polls both nationally and in critical swing states as the coronavirus pandemic and economic downfall takes a toll on the president.
The campaigns did not disclose expenditures for July. Those details won't be publicly available until financial reports are posted by the Federal Election Commission.
Much of the Trump campaign's spending activity in July went toward an aggressive television advertising blitz in several battlegrounds states that sought to question Biden's mental fitness, paint him as a left-wing radical and tie him to efforts to "defund the police." The Trump campaign spent $41.3 million in television advertising in July, according to research from the campaign ad-tracking firm Advertising Analytics.
For the rest of the race, the Biden campaign on Wednesday announced a $280 million advertising plan across 15 swing states – including Texas, Georgia, Ohio and Iowa – as it seeks to put Trump on the defense in several reliably Republican states that he won in 2016.
The Biden campaign reserved $220 million in television ads and $60 million for digital advertising. The Trump campaign has reserved $151 million in television advertising between between now and the November election, according to Advertising Analytics.
Reach Joey Garrison on Twitter @joeygarrison.
This article originally appeared on USA TODAY: Election 2020: Trump tops Joe Biden in fundraising by $25M in July