The RNC needs to kick it up a notch.
As the election year kicks off, Democrats are enjoying a significant fundraising advantage over their Republican counterparts, who are grappling with financial constraints and internal discord in crucial swing states. Recent filings with the Federal Election Commission (FEC) reveal that the Democratic National Committee (DNC) possesses nearly three times the cash on hand compared to the Republican National Committee (RNC) and has outpaced the RNC in fundraising, particularly in the final month of 2023.
The RNC, facing its most challenging fundraising year since 2013, reported a meager $87.2 million raised in 2023, starting 2024 with just over $8 million in cash on hand. Adjusting for inflation, this fundraising level hasn’t been seen since 1993, predating the restrictions imposed by the 2002 McCain-Feingold Act. On the other hand, the DNC reported a robust $120 million raised in 2023, boasting a record $21 million in cash on hand and maintaining a substantial $13 million gap between the two committees. December alone saw the DNC raising $14.7 million compared to the RNC’s $5.3 million.
While the RNC garnered more direct contributions over the year, the DNC’s joint fundraising agreement with President Biden’s re-election campaign and other committees allowed it to outperform the RNC for a significant period. The fundraising landscape for national committees typically experiences a decline when an incumbent president from the opposing party is in office.
The Republicans are not only contending with financial challenges but also internal turmoil within various party organizations in key swing states crucial for maintaining or expanding their majority in the House, winning the Senate, and reclaiming the White House. Instances of party disarray and legal troubles in states like Arizona, Michigan, Nevada, and North Carolina further complicate the Republican landscape.
Responding to these challenges, a DNC spokesperson criticized the RNC’s financial state, stating that it resembled a “financial dumpster fire.” The source familiar with RNC’s fundraising clarified that, despite financial difficulties, the committee raised more than any other Democrat or Republican committee in 2023, excluding the Democratic Congressional Campaign Committee (DCCC).
The RNC, in response, emphasized strategic investments in staff and initiatives across 15 battleground states. While acknowledging the January fundraising boost, the RNC spokesperson highlighted concerns about the Democrats’ perceived unpopular agenda, lack of a ground game, and a president heading towards potential defeat in November. The stage is set for a competitive and financially critical election year, where both parties navigate challenges and capitalize on their strengths.
