The Democratic Party still maintains the fundraising advantage in both the House and Senate committees, despite the Republican Party outpacing them in June and starting July with more funds. According to the recent financial disclosures released on July 20 by committees affiliated with the major political parties, the main Republican bodies collectively raised $99.8 million in June, while the main Democratic committees raised $71.1 million.
The Republican National Committee raised $66.9 million in June, spending $19.4 million, and had $101.6 million in cash on hand at the beginning of July. In contrast, the Democratic National Committee raised $39.2 million, spent $26.1 million, and had $78.3 million in cash on hand at the start of July.
The Democrats had been outpacing the GOP in fundraising until May, and even as the Republicans surged in June, the Democrats maintained a cash-on-hand advantage. With new leadership at the RNC since March, the focus has been on reelecting former President Donald Trump, culminating in his formal nomination as the party’s 2024 presidential candidate at the Republican National Convention held in July.
Looking ahead, the DNC is preparing to host the Democratic National Convention in August, where President Joe Biden is expected to receive the nomination despite calls questioning his ability to serve another term. In Congress, both the Democratic Senatorial Campaign Committee (DSCC) and the Democratic Congressional Campaign Committee (DCCC) ended June with more cash on hand than their Republican counterparts.
As the election season approaches, both parties are gearing up for a competitive race with all 435 House seats and one-third of Senate seats up for grabs in November. Despite the current balance of power in Congress, the fundraising numbers suggest a closely contested battle for control in the upcoming elections.
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