The Republican National Committee (RNC) has the lowest cash reserves in nearly a decade, according to recent Federal Election Commission (FEC) filings.
FEC filings at the end of 2023 show The RNC reportedly has about $8 million in cash on hand. This year's FEC filings show the number is the lowest since 2014, when the RNC had about $5 million in cash on hand. show. Party members raised concerns about the party's finances in November 2023, after the RNC previously revealed it had $9.1 million in cash on hand as of Oct. 30, 2023, The Washington Post The paper reported. report.
“This is a revenue issue,” RNC national committee member Oscar Bullock of Tennessee told the Washington Post. “We're doing the same efforts we always do to raise money: donor conferences, retreats, digital advertising, direct mail. But the returns this year are pretty low. We know the answer. If so, I'd love to know. The staff managed to cut expenses to keep the party from running into the red.”
Wow — the Republican National Committee has just $8 million in cash on hand, according to year-end FEC filings. It was the lowest fundraising year since 2013.
— Hugo Lowell (@hugolowell) February 1, 2024
After former President Donald Trump took office, the RNC's cash reserves plummeted. In 2015, just before the presidential election, the RNC had about $18.7 million in cash on hand, according to FEC filings. show. 2019, R.N.C. had It has more than $71 million in cash on hand.
The party had $14.3 million in cash on hand at the end of 2022, according to FEC filings. show.
The Democratic National Committee (DNC) has $21 million in cash. according to Until FEC filing at the end of 2023.
RNC Chair Ronna McDaniel speaks before the 2nd Republican presidential primary debate at the Ronald Reagan Presidential Library in Simi Valley, California on September 27, 2023. (Photo by Robyn BECK/AFP) (Photo by Robyn BECK/AFP) :ROBYN BECK/AFP via Getty Images)
While party members have voiced concerns about the RNC's finances, RNC Chairwoman Ronna McDaniel said: Said The Washington Post reported in November that donors were focused on giving money to individual candidates during elections. McDaniel said he expects the RNC's finances to improve if a presidential candidate is elected. (Related article: 'I'm sure she's a nice woman': RNC rushes to Ronna McDaniel's defense after viral Vivek comment)
“I think there are more donors who are really committed to the candidate right now, saying, 'I'm all in, I'll be in it if the candidate is chosen.' That's what I hear more than anything. I'm firmly in my candidate's camp, which is normal,” McDaniel told the magazine. “There is nothing unusual about this, because they know that if their candidate wins, they will merge and work together to win the White House.”
