As the 2024 election nears, the Democratic National Committee (DNC) has surpassed the Republican National Committee (RNC) in fundraising, a shift from past trends.
The latest Federal Election Commission filings reveal that the DNC raised approximately $92.9 million from January to October 31, 2023, outdoing the RNC’s $74 million during the same period.
DNC outpaces RNC in fundraising, cash reserves for the first time in 10 years
This marks the first time since 2013 that the DNC has led in fundraising over the RNC in the initial ten months of a year.
The DNC also holds an advantage in cash reserves, with about $17.6 million on hand at the end of October, compared to the RNC’s $9.1 million.
Historically, the DNC often leads in cash on hand at this stage, though the RNC had a significant lead before the 2020 election, with $61.4 million compared to the DNC’s $8.7 million.
RNC’s 2024 strategy focuses on ‘voter initiatives,’ ‘election integrity’
In an interview, the RNC emphasized its focus on defeating President Joe Biden in the upcoming election.
The report highlighted the committee’s efforts, including staffing in 15 states, filing over 70 election integrity lawsuits, launching the Bank Your Vote initiative, establishing a permanent Election Integrity department, and holding Biden accountable.
The Bank Your Vote campaign encourages early in-person and mail-in balloting, including ballot collection.
At the same time, the Election Integrity Department aims to establish a network of poll watchers and engage in litigation.
RNC boosts election efforts in battleground states
The RNC has also deployed staff in key battleground states and states crucial for House and Senate races. It has launched the Bank Your Vote initiative in several states, including California, Florida, and Pennsylvania.
The Election Integrity Department focuses on litigation, recruiting in-state election integrity directors and lawyers, and training thousands of poll watchers and workers.
When considering the broader fundraising picture, including the National Republican Congressional Committee (NRCC), National Republican Senatorial Committee (NRSC), Democratic Congressional Campaign Committee (DCCC), and Democratic Senatorial Campaign Committee (DSCC), the GOP lags behind the Democrats.
Democrats gain edge in cumulative receipts, online fundraising
The cumulative receipts of the Republican-aligned groups total about $211.4 million, while their Democratic counterparts have raised about $255 million.
This is a reversal from the past two election years when Republican committees reported higher total receipts.
The Democrats also have a significant edge in online fundraising. ActBlue, a nonprofit organization that raises funds electronically for Democratic candidates and liberal causes, has consistently amassed hundreds of millions of dollars.
ActBlue outperforms WinRed in 2023 fundraising
In the first half of 2023, ActBlue reported about $320.5 million in total receipts. In contrast, WinRed, the GOP’s equivalent launched in 2019, collected about $183.6 million in the same period.
While both platforms charge a processing fee on contributions, ActBlue’s fundraising has far outpaced WinRed’s, with ActBlue collecting about $1.5 billion in 2022 and a staggering $3.4 billion in 2020.
These fundraising trends reflect the shifting dynamics of political donations in the U.S., with the Democratic Party gaining momentum in the lead-up to the 2024 elections.
The increased fundraising efforts and successful campaigns like ActBlue signify the growing importance of digital platforms and small donors in American politics.