Democrats have gotten off to a strong start to the election year with overwhelming fundraising advantages over Republicans who are facing funding shortfalls and party turmoil in key battleground states.
The Democratic National Committee (DNC) has nearly three times as much cash on hand as the Republican National Committee (RNC) reported, according to year-end reports filed this week with the Federal Election Commission (FEC). Committee (RNC) brought in nearly three times the cash reported. Most funds will be raised in the last month of 2023.
of RNC reports worst fundraising year Since 2013, or since 1993 when adjusted for inflation, it has raised just $87.2 million in 2023 and starts 2024 with just over $8 million in cash on hand.
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A security fence remains in place around the Democratic National Committee (DNC) headquarters in Washington, DC, on November 16, 2023. (Kevin Dietsch/Getty Images)
of DNC reports $120 million raised In 2023, cash on hand reached a record high of $21 million, creating a huge gap of $13 million between the two committees. It also reported in December that it had raised $14.7 million compared to the RNC’s $5.3 million.
The RNC brought in more direct donations than the DNC throughout the year, but the latter enjoys joint fundraising agreements with President Biden’s re-election campaign and other joint fundraising committees and outperformed the RNC overall. For most of that period, a community chest agreement was in place.
Republicans are also dealing with a number of organizational turmoil in several battleground states, which will be critical to the party maintaining or expanding its majority in the House, winning a majority in the Senate, and retaking the White House. becomes.
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Last week, Jeff DeWitt, the current and former chairman of the Arizona Republican Party, abruptly resigned after allegations surfaced that he tried and failed to bribe Republican Senate candidate Kari Lake not to campaign. The state party also struggled financially throughout last year due to lower contribution levels and hundreds of thousands of dollars in legal costs related to the 2020 presidential election.
The Democratic National Committee started the election year with $21 million in cash on hand, compared to $8 million in cash on hand for the Republican National Committee. (St. Petersburg)
In Michigan, newly elected state Republican Party chairman Pete Hoekstra and ousted former chairman Christina Karamo are battling over who is actually in control of the party, and more. A number of state party officials are facing felony charges for their alleged involvement in a fake voter scheme. It seeks to overturn the results of the state’s 2020 presidential election.
In Nevada, Republican Party Chairman Michael McDonald was indicted for a similar fake elector scheme, and in North Carolina, the state Republican Party’s FEC report shows it has run out of cash and is now $72,000 in debt. It has become.
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Republican presidential candidates are spending hundreds of millions of dollars on advertising in hopes of winning the party’s nomination, delaying the party’s chance to unite around a single candidate and focus on the general election.
“The Republican National Committee has literally become a financial dumpster at a time when they literally can’t afford it,” Democratic National Committee spokesperson Alex Floyd told Fox News Digital.
Republican National Convention Chair Ronna McDaniel (Credit: RNC)
“Given that 2024 has already had millions of people attacking each other and the Republican parties are mired in infighting and headed toward bankruptcy, I don’t think Republican donors will waste their time handing over money to the RNC. Instead, they may want to consider lighting their own money on fire,” he said. Added.
Fox News Digital has reached out to the RNC for comment.
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A person familiar with the RNC’s fundraising told Fox News Digital that the RNC will be able to exclude the Democratic Congressional Campaign Committee (DCCC) in 2023, considering direct fundraising and not including transfers from other community chest organizations. He said it raised more money than any other Democratic or Republican committee.
The person also said the RNC has already made significant financial investments in staffing, early voting and vote-collection efforts in 15 battleground states, but that is due to the party’s low cash reserves. He did not say whether they were directly involved.
FOX News reported this week that the RNC raised $12 million in January, more than any other month in 2023.
FOX News’ Paul Steinhauser contributed to this report.
Get the latest on the 2024 campaign trail, exclusive interviews and more with Fox News Digital’s Election Hub.
