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IPFS News Link • Politics: Republican Campaigns

RNC Reports Worst Fundraising Year In A Decade

•, by Austin Alonzo

On Jan. 31, the RNC, along with other Republican Party and Democratic Party national committees and congressional committees, filed their annual fundraising tallies with the regulator.

The RNC, according to its year-end filing, brought in about $87.2 million in total federal receipts. That's a sharp drop from the about $241.1 million it raised in 2019, the last year preceding a general election. Moreover, it's significantly lower than the $176 million it raised in 2022.

The GOP's primary committee reported it had about $8 million on hand at the end of 2023. That's the lowest amount it had on hand at the end of the year since 2014, when it had about $5 million in the bank. Additionally, at the end of last year the RNC was saddled with about $1.8 million in debt.

By comparison, the Democratic National Committee (DNC) reported it raised $119.9 million in total federal receipts in 2023. It also held $21 million on hand and was debt-free.

On Feb. 1, DNC Chair Jaime Harrison posted on X that the Republicans need to "pray" for better fundraising.

A person familiar with the RNC's finances who spoke with The Epoch Times said without including transfers from elsewhere, the RNC beat every other Democrat or Republican committee in 2023 fundraising. Only the Democratic Congressional Campaign Committee outraised the RNC in 2023, they said.

The RNC and DNC are the primary committees of their respective parties. The organizations are charged with developing and promoting the parties' platforms and supporting candidates for local, state, and national offices.