The Democratic Party has an edge in the fundraising race against the Republican Party, based on Federal Election Commission disclosures through to the end of November 2023. The three leading Democratic fundraising committees brought in approximately $25.4 million during November, whereas their Republican counterparts managed about $21.8 million during the same period. This gives the Democrats a lead of about $3.6 million for the month.
The Republican National Committee (RNC) reported total receipts of around $81.9 million in the first 11 months of 2023, whereas the DNC Services Corp./Democratic National Committee raised about $105.3 million during the same period. In terms of receipts for November, the RNC raised about $8 million, while the DNC brought in approximately $12.3 million.
Both the RNC and DNC are key financial contributors to campaigns supporting members of their respective parties. Also, they are charged with developing and promoting the party’s platform and supporting candidates for local, state, and national offices. In addition, the RNC and DNC organize and hold the party’s convention.
Looking to the future, the 2024 Republican National Convention is scheduled to be held in Milwaukee, Wisconsin, from July 15 to 18, 2024, while the 2024 Democratic National Convention is set to be held in Chicago, Illinois, from August 19 to 22, 2024. Both conventions will formally select the party’s nominees for president.
As of November, Democrats hold a substantial lead in cash on hand, with the DNC holding approximately $20 million, and the RNC having roughly $10 million. Both parties also have debts, with the RNC owing more than $2.3 million and the DNC owing approximately $287,000.
In terms of Congressional Committees, the Democratic congressional committees raked in about $22.8 million more than the Republican committees through the first 11 months of 2023. Additionally, the Democrats’ committees hold approximately $16.7 million more than their Republican counterparts.
During the same period, the NRSC collected about $68.3 million in total receipts, and the NRCC brought in around $84.2 million. In contrast, the DSCC reported total receipts of approximately $66.3 million, with the DCCC leading all organizations with about $108.9 million.
The November fundraising reports were seen as signs of impending victory in competing statements, with the NRCC claiming to have raised $1.5 million more than the DCCC in November. The DCCC trumpeted its superior cash on hand and year-to-date fundraising totals.
In the 118th Congress, Republicans hold a majority in the House, with 221 of the 435 members belonging to the conservative party. In the Senate, Republicans hold 49 of the 100 seats, whereas Democrats hold 48 seats. However, Democrats are considered the majority party due to the three independent lawmakers, Sen. Angus King (I-Maine), Sen. Bernie Sanders (I-Vt.), and Sen. Kyrsten Sinema (I-Ariz.), who caucus with the liberal party.
All 435 House seats will be up for election in the 2024 general election, along with a third of the Senate seats. This guarantees an intense and competitive election season for both parties.
