‘A Revenue Problem’: Worries Mount Over GOP’s Finances Ahead Of 2024

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Mary Lou Masters Contributor
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Many involved in the GOP’s 2024 efforts are growing worried over the Republican National Committee’s (RNC) finances as major donations have dropped ahead of next year’s election, The Washington Post reported Monday.

The RNC reported its lowest amount of cash on hand since 2015 on Oct. 30 at only $9.1 million, compared to the Democratic National Committee’s (DNC) $17.7 million, according to the Post. Party members, former President Donald Trump’s advisers and others involved in the GOP’s efforts voiced concern to the outlet over the RNC’s fundraising, as the committee brought in roughly $20 million and $61 million during the same points in the 2016 and 2020 election cycles, respectively.

“It’s a revenue problem,” Oscar Brock, an RNC member in Tennessee, told the Post. “We’re going through the same efforts we always go through to raise money: the same donor meetings, retreats, digital advertising, direct mail. But the return is much lower this year. If you know the answer, I’d love to know it. The staff has managed to tighten down on expenses to keep the party from going into the red.” (RELATED: ‘I’m Sure She’s A Nice Lady’: RNC Scrambles To Defense Of Ronna McDaniel After Viral Vivek Call-Out)

The RNC has seen a drop in large- and small-dollar donations in recent years, as some are either reluctant to contribute so as not to help elevate Trump or are holding off until 2024, sources familiar with the GOP’s finances told the Post. Others are concerned about the party’s leadership and recent electoral losses.

“The RNC’s electoral record since 2017 speaks for itself,” Patti Lyman, a Virginia RNC member who opposed RNC Chairwoman Ronna McDaniel’s most recent reelection, told the Post. “The damage from that chair election goes far beyond the drop in donations. Our base was demoralized.”

Many have placed blame on the RNC for the GOP’s losses in the Nov. 7 off-year elections, including Virginia’s contentious legislative races, Kentucky’s governor race and the passage of an abortion ballot measure in Ohio. The committee has also garnered criticism for its handling of the Republican presidential primary debates, which the former president has since called on them to cancel.

EDINBURG, TEXAS - NOVEMBER 19: Former President Donald Trump gives remarks at the South Texas International airport on November 19, 2023 in Edinburg, Texas. Trump took the stage shortly after Texas Governor Greg Abbott officially endorsed the former president for his 2024 presidential campaign. (Photo by Michael Gonzalez/Getty Images)

EDINBURG, TEXAS – NOVEMBER 19: Former President Donald Trump gives remarks at the South Texas International airport on November 19, 2023 in Edinburg, Texas. (Michael Gonzalez/Getty Images)

However, the RNC outpaced the DNC by roughly $15 million in direct contributions this year, even with an incumbent Democratic president ahead of an election year, according to the Federal Election Commission (FEC) filings. The RNC also raised over $10 million more than the Democratic Senatorial Campaign Committee, the National Republican Congressional Committee and the National Republican Senatorial Committee, but the Democratic Congressional Campaign Committee brought in roughly $15 million more than the RNC.

“Chairwoman Ronna McDaniel and the entire Republican National Committee is laser focused on beating Biden next fall,” a spokesperson for the RNC told the Daily Caller News Foundation in a statement. “The RNC has already staffed up in 15 states, filed over 70 election integrity lawsuits, launched Bank Your Vote, established a permanent Election Integrity department, and continues to hold Joe Biden’s feet to the fire. The RNC will continue to communicate with all campaigns and candidates as we look forward to putting our battle-tested infrastructure behind our Presidential nominee.”

Additionally, the RNC is either on par with or outraising the DNC at this point in the election compared to previous cycles in 2016 and 2020, when the Democrats did not have an incumbent president, according to the FEC filings. The RNC also has more cash on hand at this point in the cycle than the DNC did in either of the previous two.

McDaniel believes donors are contributing more to presidential campaigns than they are to the committee, which she argued to the outlet will likely change once the GOP picks its nominee next year.

“I think there’s more donors just fully committed to their candidate right now, saying I am all in, and once the nominee is set, I’ll be there. That’s what I hear more than anything. And they’re really solidly in the camps of their candidate, which is normal,” McDaniel told the Post. “There’s nothing unusual about this, because they know that once their candidate gets in that we will merge and that we’ll be working together to win the White House.”

Trump did not immediately respond to the DCNF’s request for comment.

Editor’s Note: This article has been updated to include a statement from an RNC spokesperson.

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