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The Republican National Committee’s finances and fundraising efforts are in a “horrifying” state, according to a Republican National Committeeman. Several Democratic National Committee officials and at least one analyst all also point to data that says the RNC just had the worst fundraising year in three decades.
“This is horrifying,” declared Tyler Bowyer, an RNC National Committeeman and official at Charlie Kirk’s right wing Turning Point USA. “Worst fundraising year for RNC in 30 years. They’re asking for a $10 million bailout. Anyone defending this is insane.”
According to the chart Bowyer posted to social media (below), under Chairwoman Ronna McDaniel the RNC ended 2023 with just over $8 million cash on hand and debt of $1.8 million.
This is horrifying.
Worst fundraising year for RNC in 30 years.
They’re asking for a $10 million bailout.
Anyone defending this is insane. pic.twitter.com/BQe3d4JWY7
— Tyler Bowyer (@tylerbowyer) February 1, 2024
NCRM has not confirmed these figures, but Democratic National Committee Communications Director Rosemary Boeglin says the GOP “is struggling when they can least afford it (literally): -Worst fundraising year since ’93 -Lowest cash on hand headed into a presidential in decades -Worst month for contributions in a decade.”
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“Meanwhile,” she adds, Democrats “outraised RNC by 3:1, with 2x+ as much cash on hand.”
Alex Floyd, the Rapid Response Director for the Democratic National Committee (DNC) adds, “FEC reports are due, and no surprise: the RNC is in absolutely dire financial straits, with some of the lowest yearly fundraising numbers and lowest cash on hand headed into a presidential year in decades.”
Turning to the RNC’s cash on hand (COH), Floyd says it is $8 million, which is “less than half the COH as the DNC,” and “less than half the COH the RNC had in 2011 at this point against an incumbent.”
“In real dollars, the RNC had its worst fundraising year since 1993,” Floyd says, which echoes analysis others have made. “The RNC also had its worst *month* for contributions in a decade,” he adds, although a Fox News article called the RNC’s January fundraising its “best monthly haul in 2024 cycle.”
“And to cap it off, they had a December burn rate of 137%, and spent more money over the past year than they’ve taken in,” Floyd concludes.
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“Meanwhile, the DNC outraised the RNC by nearly 3 to 1 and is sitting on more than twice as much cash on hand, helping to drive President Biden’s massive warchest,” Floyd says, adding that “GOP state parties, especially in critical battlegrounds, are also struggling, facing bankruptcy and mounting debts alongside leadership chaos and infighting ahead of 2024.”
Rob Pyers, the Research Director for the non-partisan California Target Book, appears to confirm the data.
🚨The Republican National Committee’s year-end filing reveals it had its worst fundraising year since 2013 in absolute dollars and its worst since 1993 in inflation-adjusted figures.
It raised $87.2M, spent $93.5M, and had just $8M on hand and $1.8m in debt. pic.twitter.com/QByea9v5d5
— Rob Pyers (@rpyers) February 1, 2024
See the social media posts above or at this link.
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