Democrats hold vast fundraising advantage as Republicans face cash problems, disarray in crucial swing states
The DNC starts the election year with nearly three times the cash on hand reported by the RNC
Brandon Gillespie By Brandon Gillespie Fox News
Published February 3, 2024 3:34pm EST
FIRST ON FOX: 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 raising just $87.2 million in 2023, and starting 2024 with just over $8 million in cash on hand. If adjusted for inflation, the RNC's fundraising was last this low in 1993 — before the 2002 McCain Feingold Act restricted political committee fundraising from corporations and capped donations from individuals.
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 incumbent 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. National committees of either party often see a decline in fundraising during election cycles against an incumbent president of the opposite party.
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