FIRST ON FOX: Democrats are rubbing salt in the wound when it comes to their massive fundraising advantage over Republicans as the GOP attempts to use its money troubles to fire up would-be donors.
The Republican National Committee (RNC) has started running digital ads admitting that it “can’t afford” to go toe-to-toe with the Democratic National Committee (DNC) as both parties move deeper into a crucial election year.
“Here’s the honest truth: things aren’t looking too good for Republicans. The Democrats are outraising us. They will be able to buy ads in markets we can’t afford, and they will OUTSPEND US. We are gearing up for the election of our lifetime,” the ad running on X says.
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A new RNC digital ad admits Republicans’ fundraising struggles and disadvantage against the DNC. (RNC/X)
The ad has drawn the attention of the DNC, which told Fox News Digital on Friday it was evidence of how “desperate” the RNC is.
“In response to RNC’s dire financial situation, the RNC released the following statement on behalf of the DNC: ‘Here’s the honest truth: things aren’t looking too good for Republicans. The Democrats are outraising us. They will be able to buy ads in markets we can’t afford, and they will OUTSPEND US.’ We agree,” a DNC spokesperson quipped, using the RNC’s own words.
Fox News Digital has reached out to the RNC for comment.
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Security fencing remains installed around the Democratic National Committee (DNC) headquarters on November 16, 2023, in Washington, D.C. (Kevin Dietsch/Getty Images)
Last month, Fox News Digital was the first to report on Democrats’ vast fundraising advantage over their Republican counterparts, who began the election year facing a shortage of cash and party disarray in crucial swing states.
According to year-end reports filed with the Federal Election Commission (FEC), the Democratic National Committee (DNC) began the year with nearly three times the cash on hand reported by the Republican National Committee (RNC), and brought in nearly three times as much fundraising in the final month of 2023.
The RNC reported its worst fundraising year since 2013, raising just $87.2 million in 2023, and starting 2024 with just over $8 million in cash on hand. If adjusted for inflation, the RNC’s fundraising was last this low in 1993 — before the 2002 McCain Feingold Act restricted political committee fundraising from corporations and capped donations from individuals.
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The Democratic National Committee started the election year with $21 million cash on hand, compared to the Republican National Committee’s $8 million. (iStock)
The DNC reported $120 million raised in 2023, and a record $21 million in cash on hand, marking a massive $13 million gap between the two committees. It also reported raising $14.7 million in December to the RNC’s $5.3 million.
Although the RNC brought in more direct contributions than the DNC throughout the year, the latter enjoys a joint fundraising agreement with incumbent President Biden’s re-election campaign, as well as its other joint fundraising committees. The DNC overall outraised the RNC — which does not have a joint fundraising agreement with a sitting president — for much of the period. National committees of either party often see a decline in fundraising during election cycles against an incumbent president of the opposite party.
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RNC Chairwoman Ronna McDaniel is expected to formally resign her position after the March 5 Super Tuesday primaries, weeks after former President Trump asked her to step down.
Trump endorsed his daughter-in-law, Lara Trump, to be co-chair alongside North Carolina GOP chair Michael Whatley as chairman.
Source: www.foxnews.com