Charles Ellison
+ FollowGOP Fundraising Numbers Not Looking Good
Reports recently filed with the Federal Election Commission show some real money problems ahead for the Republican National Committee – especially as it heads into the Congressional mid-term cycle. Despite strong showings in polls, the RNC is spending more money than it is raising – twice as much in July alone. Currently, the official Republican Party has only a bit over $5 million on hand to use for candidates in one of the most consequential Congressional election cycles in modern political history.
The financial problems plaguing the RNC are so grim that the competing Democratic National Committee was among the first to break the story as RNC leaders remained quiet. Only $5.5 million was raised for the Republican Party in July compared to $11 million spent, ending the month with more than $5.3 million in the bank and $2.2 million in debt. latest report showThe Republican National Committee spent twice as much as it raised in July, leaving the committee with just over $5 million on hand with less than three months left before the 2010 midterm elections.
Obviously pleased by the lack of GOP fundraising prowess, the DNC showed off its numbers, raising and spending nearly $12 million in July, with $4 million transferred to state party organizations. The RNC only transferred $1.5 million to state parties and had to request a $10 million line-of-credit at its recent summer meeting in Kansas City.
“The fact that the Republican Party has so little cash on hand is very revealing for two reasons,” observes Jason Johnson, a political science professor at Hiram College in Ohio in comments to Politic365. “For one, it underscores the benefits of the recent Supreme Court decision allowing unlimited corporate donations in the sense that it’s the only way they can support themselves. Secondly, the GOP base has primarily moved to the Tea Party. If it wasn’t for the Supreme Court ruling, the GOP would be in greater financial difficulty. What we’re seeing is anti-incumbent fury rather than anti-Democratic fury; we’re definitely not seeing a Republican wave as the recent numbers are showing.”
However, other Republican committees are showing much stronger numbers. The National Republican Congressional Committee raised $8.5 million in July compared to the Democratic Congressional Campaign Committee’s $6.2 million.
The lackluster fundraising numbers come at a bad time for RNC Chairman Michael Steele, who is under intense scrutiny over reports of financial mismanagement and charges that he hid $7 million in debt from the committee. While Steele is moving forward with plans for a second term, opposition to his bid is sure to grow stronger due to the recent fundraising performance.
More on Politic365
2 Responses to GOP Fundraising Numbers Not Looking Good
Leave a Reply
Featured
Connect
Washington Informer
Advertisement
I read something cool about Babe Ruth today. In 1916, he pitched over 320 innings for the Red Sox, and he didnt allow a single home run. In the World Series against Brooklyn, the third batter of game 2, took him deep.