Democrats have started the election year off on a high note with a vast fundraising advantage over their Republican counterparts, who are facing a shortage of cash and party disarray in crucial swing states.
According to year-end reports filed with the Federal Election Commission (FEC) this week, the Democratic National Committee (DNC) holds nearly three times the cash on hand reported by the Republican National Committee (RNC), and brought in nearly three times as much fundraising in the final month of 2023.
The RNC reported its worst fundraising year since 2013 — or since 1993 when adjusted for inflation — raising just $87.2 million in 2023, and starting 2024 with just over $8 million in cash on hand.
TRUMP, HALEY BATTLE FOR BIG DONORS WHILE BIDEN CAMPAIGN SITS ON MASSIVE CASH RESERVE
Security fencing remains installed around the Democratic National Committee (DNC) headquarters on November 16, 2023, in Washington, D.C. (Kevin Dietsch/Getty Images)
The DNC reported $120 million raised in 2023, and a record $21 million in cash on hand, marking a massive $13 million gap between the two committees. It also reported raising $14.7 million in December to the RNC’s $5.3 million.
Although the RNC brought in more direct contributions than the DNC throughout the year, the latter enjoys a joint fundraising agreement with President Biden’s re-election campaign, as well as its other joint fundraising committees, and overall outpaced the RNC, which does not have a joint fundraising agreement, for much of that period.
Republicans are also dealing with disarray in a number of their party organizations in multiple swing states that will be crucial to the party maintaining, or growing, its majority in the House, winning a majority in the Senate and retaking the White House.
STACEY ABRAMS’ ONCE-POWERFUL VOTING RIGHTS GROUP FACES MASSIVE LAYOFFS AS IT STRUGGLES WITH MILLIONS IN DEBT
Last week, the now-former chairman of the Arizona Republican Party, Jeff DeWitt, suddenly resigned…
