Republican National Committee closes July with just $5 million on hand
The Republican National Committee spent twice as much as it raised in July, leaving the committee with just over $5 million on hand with less than three months left before the 2010 midterm elections.
In a report filed with the Federal Election Commission this evening, the RNC showed $5.5 million raised and more than $11 million spent -- including $1.5 million in transfers to state party committees -- last month. The committee ended July with $5.3 million in the bank and $2.2 million in debt.
The Democratic National Committee raised and spent $11.6 million in July, including nearly $4 million in transfers to state parties. The DNC ended the period with $10.8 million. The DNC had $3.5 million in debt.
The dismal report comes less than a month after RNC Treasurer Randy Pullen accused Chairman Michael Steele of hiding $7 million in debts; the RNC filed amended reports in July detailing $3 million in previously unreported debts.
The RNC's money woes have become a point of significant concern for some party strategists who have fretted privately -- and publicly -- that the committee's financial standing could affect the party's ability to capitalize on an election cycle shaping up to be a very good one for the GOP.
On the Senate side, the Democratic Senatorial Campaign Committee took in $4.4 million and spent $3.5 million in July, leaving it with $22.5 million cash on hand. In the same period, the National Republican Senatorial Committee raised $4.2 million and spent $2.6 million, giving it $21.2 million in the bank.
The National Republican Congressional Committee -- the House GOP campaign arm -- brought in $8.5 million in July, spent $3.5 million and closed July with $22 million in the bank. The Democratic Congressional Campaign Committee raised less ($6.2 million) and spent more ($4.2 million) than their Republican rivals in July but ended the month with $36 million on hand.
| August 20, 2010; 11:19 PM ET
Categories: Republican Party
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