The Republican Party is in serious financial trouble. While Democrats closed 2023 and began this election year with an excellent performance in terms of raising money, Republicans are facing severe legal challenges in swing states and liquidity problems.
According to year-end reports filed this week with the Federal Election Commission (FEC), the Democratic National Committee (DNC) has almost three times as much cash on hand than the Republican National Committee (RNC) after raising nearly three times more funds in December.
According to Fox News, RNC had its worst fundraising year since 2013, raising $87.2 million in 2023 and starting this election year with just over $8 million in cash on hand while registering a debt of another million dollars on the side.
It's an entirely different picture for the DNC, which posted $120 million in revenue in 2023 and a record $21 million in cash on hand, representing a nearly triple gap over the RNC.
Likewise, the DNC reportedly raised $14.7 million in December, while the RNC barely reached $5.3 million.
Although the number is staggering, one of the reasons for the wide fundraising gap is that the DNC has a joint fundraising agreement with Joe Biden's re-election campaign, Fox News Digital explained in its report.
"Although the RNC brought in more direct contributions than the DNC throughout the year, the latter enjoys a joint fundraising agreement with incumbent President Biden's re-election campaign, as well as its other joint fundraising committees, and overall outpaced the RNC, which does not have a joint fundraising agreement, for much of that period," the outlet's report reads.
The chairwoman of the Republican National Committee, Ronna McDaniel, had to ask for "unity" from Republicans amid heavy criticism and the committee's difficult financial situation. Meanwhile, GOP primaries are not officially resolved and Nikki Haley continues to seek to overthrow the favorite, Donald Trump, who recently rejected the RNC's attempt to position him as the Republican "presumptive candidate."
In addition to cash liquidity problems, Republicans face a series of scandals in some swing states, such as Michigan and Arizona.
Just last week, Jeff DeWitt resigned from his position as chairman of the Arizona Republican Party after he was accused of trying to bribe Republican Senate candidate Kari Lake not to run in the 2024 general election.
Arizona was one of the states that had financial difficulties last year amid fundraising problems and legal challenges related to the 2020 elections.
Likewise, state officials in Nevada and Michigan are also facing legal challenges over the elections and alleged attempted voter fraud.
Particularly in Michigan, the new state chair of the Republican Party, Pete Hoekstra, and the ousted former chair, Kristina Karamo, continue to fight for control of the party as the election year unfolds.
