McCain's fundraising in June nets $22 million

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Ramping up ads
Meanwhile, the RNC can spend up to $19 million in coordination with the McCain campaign. But it can also spend unlimited amounts on his behalf as long as the campaigns don't discuss those efforts.

Davis said McCain and the RNC expect to raise a combined $95 million by the end of August. After that, Davis predicted the combined party and public money available to advance McCain's campaign in the fall would total about $210 million.

Obama has proved to be a prodigious fundraiser, but the Democratic National Committee has had far less cash on hand than its Republican counterpart. At the end of May, the RNC had $53 million cash on hand to the DNC's $4 million.

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McCain has been airing ads on national cable networks and in Colorado, Missouri, Michigan, Minnesota, Nevada, New Hampshire, New Mexico, Wisconsin, Pennsylvania, Ohio and Iowa. This week it cut back significantly in Minnesota, where Republicans will hold their convention, to buy time in northern Virginia. Obama has been airing ads in more states, but spending less.

Davis said he expected Obama to begin ramping up his advertising expenditures.

Obama has broken records in fundraising. He had raised $287 million by the end of May, but had only $33 million cash on hand to spend between now and the end of August.

McCain had nearly $32 million in the bank at the start of June. Davis said the lower cash-on-hand figure at the end of June reflected the campaign's additional ad spending.