Recent federal filings underscore the disparity. The DNC brought in $11.4 million in March and reported $13.9 million in cash on hand, while the Republican National Committee raised $21.2 million and held roughly $116.7 million in reserves. The DNC is also carrying more than $18.3 million in debt, much of it tied to a $15 million loan taken out after the 2024 election cycle.
The gap comes despite Democrats having racked up a string of special election wins and strong performances, raising questions about why that energy has not translated into stronger fundraising at the national party level.
Democratic strategist Steve Schale, a veteran operative who led the pro-Biden super PAC Unite the Country, said the answer is less about a lack of enthusiasm and more about lingering frustration from the party’s 2024 losses.
“There is a confidence issue that remains institutional,” Schale said, describing donors who felt party leaders painted
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