Democratic Party Outraises the GOP, With Some Help From Biden

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The Democratic National Committee took in $15.6 million in April, topping its Republican counterpart which raised $13.2 million, according to their latest filings with the Federal Election Commission.

The Republican National Committee ended the month with $90.5 million in the bank, part of a windfall the party enjoyed thanks to former President Donald Trump’s post-election fundraising, when he falsely blamed widespread election fraud for his loss, and claimed he needed to raise money to challenge the results in court.

The DNC has $56.4 million cash on hand.

The DNC raised the biggest share of its total, some $5.4 million, from small-dollar donors, those who give less than $200. It also got a $5 million transfer from the Biden Victory Fund, a joint fundraising committee that also benefited President Joe Biden’s campaign and Democratic state parties. The Biden Victory Fund money was left over from the 2020 presidential campaign, the DNC’s filing shows. The DNC spent $8.4 million in April.

Small-dollar donors gave the RNC $6.9 million, and some deeper pocketed contributors chipped in too. Billionaire Diane Hendricks and investment banker Warren Stephens each gave the maximum $365,000.

The RNC spent $9.3 million in April including transfers of $275,000 to the Republican Party of Virginia. The state holds elections for statewide offices and legislative seats in November.

With midterm congressional elections some 18 months away, big donors are also focusing on state races. Reed Hastings, chief executive officer of Netflix Inc., gave $3 million to the committee defending California Governor Gavin Newsom from an effort to remove him from office, according to a filing Thursday with the California Secretary of State.

Though no date has been set for the vote, it could take place no later than the last week of October under state law.

©2021 Bloomberg L.P.

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