Record-Setting Month Helps Democrats Beat GOP in Fundraising
(Bloomberg) -- The Democratic National Committee raised $12.1 million in May, a record total for off-year fundraising in the month for the party, and topping its GOP rival by about $1 million, according to their latest filings with the Federal Election Commission.
The Republican National Committee raised $11.1 million in May, with $5.9 million of that amount coming from donations of $200 or less. It spent $22.7 million, including transfers totaling $10 million split evenly between the National Republican Congressional Committee, which supports GOP candidates for the House, and the National Republican Senatorial Committee. The DNC spent just $8.7 million, and transferred $399,600 to state party affiliates.
Small-dollar donors, those giving $200 or less, gave $4.3 million to the DNC, which also got a $3 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 ended May with $59.8 million cash on hand, the most money in the bank it’s had to that point in any year. That was still $19 million less than the $78.8 million that the RNC, which enjoyed a windfall 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.
Republicans have a chance to regain control of the House after having lost it in the 2018 election. The party went on to lose the presidency and the Senate in 2020. The House chamber is narrowly divided, with Democrats holding 220 seats compared to 211 for Republicans, with 4 vacancies. The Senate is split 50-50, with Vice President Kamala Harris able to cast the deciding vote in the case of ties, giving the Democrats control of the chamber.
Parties that hold the White House traditionally lose House seats in the midterms. Republicans lost 41 seats in the 2018 midterms, with Trump in the White House. Democrats lost 63 seats in 2010 during former President Barack Obama’s first term in office.
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