RNC Reports Worst Fundraising Year In A Decade
February 3, 2024 | Tags: ZEROHEDGERNC Reports Worst Fundraising Year In A Decade
Authored by Austin Alonzo via The Epoch Times (emphasis ours),
The Republican National Committee (RNC) in 2023 raised its lowest amount of money since 2013, according to new filings with the Federal Election Commission.
On Jan. 31, the RNC, along with other Republican Party and Democratic Party national committees and congressional committees, filed their annual fundraising tallies with the regulator.
The RNC, according to its year-end filing, brought in about $87.2 million in total federal receipts. That’s a sharp drop from the about $241.1 million it raised in 2019, the last year preceding a general election. Moreover, it’s significantly lower than the $176 million it raised in 2022.
The GOP’s primary committee reported it had about $8 million on hand at the end of 2023. That’s the lowest amount it had on hand at the end of the year since 2014, when it had about $5 million in the bank. Additionally, at the end of last year the RNC was saddled with about $1.8 million in debt.
By comparison, the Democratic National Committee (DNC) reported it raised $119.9 million in total federal receipts in 2023. It also held $21 million on hand and was debt-free.
On Feb. 1, DNC Chair Jaime Harrison posted on X that the Republicans need to “pray” for better fundraising.
A person familiar with the RNC’s finances who spoke with The Epoch Times said without including transfers from elsewhere, the RNC beat every other Democrat or Republican committee in 2023 fundraising. Only the Democratic Congressional Campaign Committee outraised the RNC in 2023, they said.
The RNC and DNC are the primary committees of their respective parties. The organizations are charged with developing and promoting the parties’ platforms and supporting candidates for local, state, and national offices.
In the presidential primary race in 2023, the main fundraising arms of former President Donald Trump brought in more than those of President Joe Biden, according to newly released regulatory filings.
An RNC official who spoke with The Epoch Times said the RNC raised about $12 million in January. Moreover, it is on track for a strong February thanks to gifts from major donors and grassroots supporters. The committee is confident it will have the resources to win in November, the official said.
In 2023, FEC filings show the Democratic Senatorial Campaign Committee (DSCC) and Democratic Congressional Campaign Committee (DCCC) outraised their counterparts, the National Republican Senatorial Committee (NRSC) and the Republican National Committee (RNC), by about $26 million.
Combined, the DSCC and DCCC raised about $195.6 million in total federal receipts in 2023. The NRSC and NRCC brought in about $169.3 million. However, the two GOP congressional committees held the advantage in cash on hand. They had about $17.8 million more in the bank at the end of last year.
The committees exist primarily to raise money and donate to the campaigns of candidates running for seats in the House or Senate.
In a statement, DCCC Chair Suzan DelBene hailed its nearly $30 million fundraising victory over the NRCC in 2023.
“The public is growing tired of Republican dysfunction and their unwillingness to govern responsibly,” Ms. DelBene said in a release. ”The DCCC will have the resources it needs to take back the majority to defend reproductive rights, stop extremism in its tracks, and help grow the middle class.”
In the 118th Congress, Republicans are the majority party in the House. In the Senate, Republicans hold 49 of the 100 seats, and Democrats hold 48. Still, Democrats are considered the majority party because the three independent lawmakers, Sen. Angus King (I-Maine), Sen. Bernie Sanders (I-Vt.), and Sen. Kyrsten Sinema (I-Ariz.), caucus with the liberal party.
All 435 House seats will be up for election in November 2024. A third of the Senate seats will also be up for election.
ActBlue Dominates WinRed
The online fundraising battle continues to be a rout for the Democratic Party.
In 2023, ActBlue, a nonprofit organization founded in 2004 that raises money electronically for Democratic candidates and liberal causes, raked in about $754.4 million in total receipts, according to its annual disclosure report.
WinRed, a GOP answer to ActBlue that debuted in 2019, brought in about $431.2 million in 2023, according to its year-end FEC filing.
ActBlue enjoys a serious advantage in cash on hand. WinRed reported it had about $200,000 in the bank at the end of the year. ActBlue has more than $54.7 million.
Both ActBlue and WinRed are hybrid political action committees.
A hybrid PAC, according to the FEC, can solicit and accept unlimited contributions from individuals, corporations, labor unions, and other political committees. It must maintain two bank accounts—one for independent spending on advertisements or voter drives and another for making direct contributions to federal candidates.