In a battle for campaign funds, Republican former President Donald Trump's team announced on Thursday that they raised $138.7 million last month. However, this figure falls short of the impressive fundraising numbers Vice President Kamala Harris garnered in the opening week of her White House bid.

With the November election just over three months away, Trump's campaign reports having $327 million in cash. Despite this considerable amount, Harris' campaign has yet to disclose their July fundraising totals or provide information about their overall campaign funds. However, the announcement by Harris' team stated that her entry into the race has ignited a surge of new contributions and volunteers.

Earlier this year, Trump's campaign, along with the Republican National Committee and other related entities, revealed raising a total of $331 million in the three-month period ending in June. This indicates that their July fundraising exceeded that pace. It is possible that this boost was spurred by two significant events: Trump surviving an assassination attempt during a Pennsylvania rally on July 13, which rallied his supporters, and his subsequent announcement of Ohio Sen. JD Vance as his running mate at the Republican National Convention in Milwaukee.

Initially, some Democrats expressed concern about the party's chances of winning in November following President Joe Biden's lackluster debate performance on June 27. However, Harris' team reassured supporters that they were on track by raising an impressive $200 million in the week after Biden revealed his decision to withdraw from the race and endorse Harris on July 21. Since then, Harris has intensified her campaign activities, increasing her travel schedule and launching a series of advertisements. These ads highlight her personal story and criticize Trump's administration.

With the Democratic National Convention underway, Harris is set to become the party's formal presidential nominee. The convention, which will culminate on Monday with a virtual voting process of delegates, takes place in Chicago on August 19. It is expected that Harris will also announce her choice for a running mate around the same time.

As the election draws nearer, the dynamics of the race are shifting. Some Democrats who once believed Trump would have the upper hand in November, given Biden's performance, now see a new contest with the 59-year-old Harris. With both candidates actively campaigning and raising substantial funds, the coming months promise to be highly competitive and pivotal for the US presidential election.