June turned out to be the best fundraising month for Republican presidential candidate, John McCain. He raised more than $22 million in June, his best fundraising performance of the year, and ended the month with nearly $27 million cash on hand.

Campaign manager Rick Davis said on Thursday that McCain and the national Republican Party together entered July with about $95 million in the bank. Davis said the he expects $400 million to be available for McCain's effort when the money he’s raised, that the party has raised and that the federal government has contributed are all added together.

“We will have significant resources to prosecute a campaign that is very robust,” Davis said. According to Davis, half of the income had been spent on television advertising.

McCain has agreed to take public financing in the fall, limiting him to about $84 million in spending for campaign activities. That means that he will have to rely on the Republican Party to spend more to help him in campaigning.

Obama's campaign officials declined to discuss their finances. But spokesman Bill Burton pointed out that Obama has more than 1.7 million donors and that, unlike Obama, McCain is getting help raising money from federal lobbyists.

“We ... are simply not surprised that John McCain and President Bush have been able to raise millions of dollars for the McCain campaign last month, much of it from Washington lobbyists,” Burton said.