Clinton left with more cash than Trump as he forgives loans

WASHINGTON (AP) — Democratic presidential candidate Hillary Clinton and her party entered July with nearly $11 million more on hand than her Republican counterpart's operations, a strong showing of fundraising as both campaigns dive into the general election.

New campaign finance reports released Wednesday reveal the state of the 2016 money race as candidates and their supportive groups turn their attention to the November election.

Fundraising has historically been a key metric in a campaign's financial health, with funds paying campaign staffers and pricey TV ads.

With Trump and Clinton now becoming the official nominees, they'll be able to make use not only of their campaign funds but also much of the money raised by their respective parties.

The group was formerly a super PAC backing Texas GOP Sen. Ted Cruz's presidential bid, and also benefited from nearly $14 million in contributions from hedge fund billionaire Robert Mercer.

The decision allowed corporations and unions to contribute in unlimited ways to political races, so long as that money comes through super PACs that are not directly coordinated with the candidates.