Republicans Are Lagging Democrats in 2023 Fundraising

Republicans Are Lagging Democrats in 2023 Fundraising

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With less than a year until the 2024 general election, the Democratic Party’s main fundraising bodies hold a lead in total receipts and cash on hand.

The primary fundraising arms of the Democratic Party collected more money than those of the Republican Party through the first 11 months of 2023, according to Federal Election Commission disclosures.

Combined, the Democratic National Committee (DNC), Democratic Senatorial Campaign Committee (DSCC), and Democratic Congressional Campaign Committee (DCCC) brought in about $25.4 million in November. The Republican National Committee (RNC), National Republican Senatorial Committee (NRSC), and National Republican Congressional Committee (NRCC) brought in about $21.8 million during the same period.

Cumulatively, the leading Democrat committees beat out their Republican counterparts by about $3.6 million in that month.

National Committees

On Dec. 20, the RNC reported it had brought in about $81.9 million in total receipts in 2023 between January and Nov. 30, according to federal filings. Its counterpart, the DNC Services Corp./Democratic National Committee, raised about $105.3 million during the same period.

Those figures indicate the RNC raised about $8 million in November. The DNC brought in about about $12.3 million.

The RNC and DNC are the primary committees of their respective parties. The organizations are charged with developing and promoting the party’s platform as well as supporting candidates for local, state, and national offices.

Both organizations are major financial contributors to campaigns supporting members of their parties. Additionally, the RNC and DNC organize and hold the party’s convention.

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The 2024 Republican National Convention is scheduled to be held July 15–18, 2024, in Milwaukee, Wisconsin. The 2024 Democratic National Convention is set to be held in Chicago, Illinois, Aug. 19–22, 2024. Both conventions will formally select the party’s nominees for president.

In terms of cash on hand, Democrats hold a sizable lead. The DNC holds about $20 million, while the RNC has about $10 million. Both parties have debts. The RNC owes more than $2.3 million, while the DNC owes about $287,000.

 Members-elect of the 118th Congress leave the House Chamber after three ballots failed to elect a new Speaker of the House at the U.S. Capitol Building on Jan. 3, 2023, in Washington. (Chip Somodevilla/Getty Images)
Members-elect of the 118th Congress leave the House Chamber after three ballots failed to elect a new Speaker of the House at the U.S. Capitol Building on Jan. 3, 2023, in Washington. (Chip Somodevilla/Getty Images)

Congressional Committees

Federal records indicate the Democratic congressional committees raked in about $22.8 million more than the Republican committees through the first 11 months of 2023. Plus, the Democrats’ committees retain about $16.7 million more than their Republican counterparts.

Through the first 11 months of the year, the NRSC collected about $68.3 million in total receipts. The NRCC brought in more, coming in at $84.2 million. The NRSC holds about $7.7 million, while the NRCC holds $41.4 million.

During the same period, the DSCC reported total receipts of $66.3 million. The DCCC led all organizations with about $108.9 million. The DSCC has about $17.1 million on hand, and the DCCC has $48.8 million.

In November, the NRCC brought in about $9 million in total receipts, the DCCC, about $7.5 million; the DSCC, about $5.5 million, and the NRSC, about $4.8 million.

The committees exist primarily to raise money and donate to the campaigns of candidates running for seats in the House or Senate.

Preparing for 2024

In competing statements, both the DCCC and NRCC said the November fundraising reports were signs of impending victory.

In a Dec. 20 statement, the NRCC said it crushed the DCCC in November by raising $1.5 million more than the Democratic body. The NRCC called the month “the largest off-year November in the Committee’s history.”

“Extreme House Democrats can’t sell their failed agenda to voters or donors, and it shows,” Jack Pandol, the NRCC’s communications director, said in a release.

“House Republicans are smashing fundraising records and in prime position to grow our majority next year.”

In its own Dec. 20 release, the DCCC trumpeted its superior cash on hand and year-to-date fundraising totals.

“House Republicans have proven themselves to be the most ineffective majority of the past 50 years. Their inability to govern is failing the nation, and voters are eager for a change,” DCCC Chair Suzan DelBene said in the release. “We are on our way to having the resources necessary to take back the majority and get Congress back to work for families and the middle class.”

In the 118th Congress, Republicans are the majority party in the House, with 221 of the 435 members represented by the conservative party. In the Senate, Republicans hold 49 of the 100 seats, and Democrats 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 the 2024 general election. A third of the Senate seats will also be up for election in November.

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