BREAKING: RNC Out Of Money
The financial state of the Republican National Committee (RNC) by the end of November marked its lowest reported level since 2016, as disclosed in the recently submitted Federal Election Commission (FEC) financial reports. The filing on Wednesday unveiled that the RNC possessed $9.96 million in available funds as of November 30, a stark contrast to the resources it had during the period when former President Donald Trump contested President Joe Biden’s White House victory.
In comparison, the Democratic National Committee (DNC) reported a cash balance of just over $20 million at the end of November. Over the course of 2021, both party committees experienced a decline in funds; however, the RNC’s balance dwindled to less than half of its counterpart’s in the last two reporting periods.
These financial figures offer an annual insight into each party’s economic landscape, with the cash on hand serving as an indicator of their spending levels. Notably, the DNC consistently reported a lower cash balance than the RNC until 2021 when it surpassed the GOP governing body for the first time since 2016.
After the 2016 election, the RNC witnessed a significant increase in available cash, rising from $21.35 million to $39.84 million after Trump’s first November as president. Although there was a slight decrease in the run-up to the 2020 election, it rebounded in 2021, reaching a peak of $65.47 million. Since 2021, however, the RNC has experienced a substantial decline, reporting only $17.28 million after the 2022 midterm elections and hitting its lowest cash balance since 2015 in October at $9.12 million.
In a November interview with The Washington Post, RNC Chair Ronna McDaniel attributed the financial situation to voters’ focus on funding their preferred presidential candidate, asserting that collaboration would ensue once a candidate secured the nomination.
Recently, entrepreneur Vivek Ramaswamy, vying for the 2024 GOP presidential nomination, called for McDaniel’s resignation, citing perceived failures of the Republican Party under her leadership. Ramaswamy, critical of the GOP’s electoral performance in 2018, 2020, and 2022, emphasized the need for accountability within the party. Despite Republicans regaining control of the House in the last midterm elections, some members, including Rep. Jeff Van Drew, expressed disappointment in the results and called for a thorough self-examination within the GOP, urging improvement in preparation for the upcoming elections. Tennessee RNC member Oscar Brock expressed concern over the decline in contributions, despite employing traditional fundraising methods, signaling a need for further investigation into the underlying causes.