RNC Reports Lowest Fundraising Since 2013
The Republican National Committee (RNC) faced financial setbacks in 2023, raising just $87.2 million and starting 2024 with only $8 million in cash on hand. Adjusted for inflation, this is the lowest fundraising for the RNC since 1993. The McCain Feingold Act, which restricted political committee fundraising from corporations and capped donations from individuals, was implemented after this period.
DNC Outpaces RNC in Fundraising
Meanwhile, the Democratic National Committee (DNC) reported a record-breaking $139 million in fundraising for 2023, with $21 million in cash on hand. The DNC’s fundraising outpaced the RNC throughout the year, thanks to joint fundraising agreements with the incumbent president’s re-election campaign. This resulted in a significant $13 million gap between the two committees. In December alone, the DNC raised $14.7 million compared to the RNC’s $5.3 million.
Challenges Faced by Republicans
Apart from financial struggles, Republicans are also dealing with disarray within their party organizations across multiple swing states. These states are crucial for the party to maintain or grow its majority in the House, win a majority in the Senate, and retake the White House.
In Arizona, the former chairman of the state’s Republican Party, Jeff DeWitt, resigned amid allegations of attempting to bribe GOP Senate candidate Kari Lake. The state party faced financial challenges throughout the year, with lower contribution levels and legal costs related to the 2020 presidential election.
Similar internal conflicts have unfolded in Michigan and Nevada, where battles over party control and indictments in fake electors schemes have created further instability. The North Carolina state Republican Party is also facing financial troubles, with a debt of $72,000, according to their FEC report.
RNC’s Response and Strategic Investments
A source familiar with the RNC’s fundraising revealed that it raised more than any other Democrat or Republican committee in 2023, except for the Democratic Congressional Campaign Committee. The RNC has already made significant financial investments, including staff buildups in 15 battleground states, early voting initiatives, and ballot-harvesting programs. However, it is unclear if these investments contributed to the low cash on hand.
Despite these challenges, the RNC remains optimistic about its fundraising efforts and strategic investments. A spokesperson for the RNC emphasized the party’s focus on winning in the upcoming elections and criticized the Democratic agenda, lack of a ground game, and President’s performance.
In conclusion, the RNC’s financial struggles and the DNC’s fundraising success highlight the challenges faced by Republicans as they strive to maintain their political standing. The upcoming elections will undoubtedly test the parties’ abilities to mobilize support and secure victory.
