GOP and Democrats Both Top $12 Million in August Fundraising
(Bloomberg) -- The Republican National Committee raised $12.2 million in August, equaling its Democratic rival while leaving it with more money in the bank as the two parties seek a financial edge before the 2022 midterm elections, according to their latest filings with the Federal Election Commission.
Democrats also brought in $12.2 million, with the Democratic National Committee reporting $9.9 million in donations and the Democratic Grassroots Victory Fund, an allied committee, bringing in another $2.3 million. The DNC has raised $110 million in 2021, a record amount for the party at this point in the year before an election.
The DNC has amassed a $67.8 million war chest that will be used in the midterm battle with Republicans for control of both chambers of the closely divided Congress.
The DNC still trails the GOP in cash on hand. The RNC reported having $74.6 million in the bank at the end of August after spending $16.6 million, including $1.8 million contributed to state parties. The GOP has raised $110 million so far in 2021 while spending $116 million, but remains in the black thanks to money left over from 2020.
Its favorable cash balance comes from the windfall it enjoyed thanks to former President Donald Trump’s post-election fundraising, when he repeatedly and falsely cited widespread election fraud for his defeat, and asked for contributions to challenge the results in court.
Republicans have a chance to regain control of the House after losing the chamber in the 2018 elections. The party lost the Senate early this year after losing the presidency in November.
Parties that hold the White House traditionally lose House seats in the midterms. Republicans lost 41 seats in 2018, with Trump in the White House. Democrats lost 63 seats in 2010 during President Barack Obama’s first term.
The House is narrowly divided, with Democrats holding 220 seats compared to 212 for Republicans and three seats vacant. The Senate is split 50-50, with Democratic control resting on Vice President Kamala Harris’s ability to cast a tie-breaking vote.
©2021 Bloomberg L.P.