The Republican National Committee (RNC) enters the 2026 midterms in strong financial shape.
The same cannot be said for the Democratic National Committee (DNC).
According to a report from The New York Times, the DNC currently has $14 million on hand but is carrying $17.5 million in debt, leaving the party roughly $3.5 million in the red.
Party leaders are said to be “privately alarmed” by the state of the finances.
By contrast, the RNC is sitting on a $95.1 million war chest and reports no debt.
Their report states:
Without a president to headline events, the party that does not hold the White House often struggles to raise money in its main national committee. President Trump’s reputation as a transactional politician has only further encouraged donors with business before the government to give generously, both to the party and Mr. Trump’s super PAC.
Still, the depth of the Democratic Party’s financial hole is noteworthy. For instance, the R.N.C. had $38.8 million entering 2018, at the end of the first year of Mr. Trump’s first term. The D.N.C. was in the red at the time, with about $500,000 more in debt than cash. But the financial gap between the two parties was less than half of what it is now.
For instance, the R.N.C. had $38.8 million entering 2018, at the end of the first year of Mr. Trump’s first term. The D.N.C. was in the red at the time, with about $500,000 more in debt than cash. But the financial gap between the two parties was less than half of what it is now.
Last October, the D.N.C. took out a $15 million loan to fund the governor’s races in Virginia and New Jersey and to make longer-term investments. The party’s cash position has eroded significantly in the past year, after entering 2025 with $22 million in the bank. The R.N.C. started 2025 with a $38 million treasury.
NEW: R.N.C. Enters 2026 With Nearly $100 Million Edge on D.N.C.https://t.co/kcUkAl5VN8
— Shane Goldmacher (@ShaneGoldmacher) February 1, 2026
During the 2024 election cycle, Kamala Harris and aligned Democratic committees significantly outraised the Trump campaign, spending over $1 billion in what turned out to be an unsuccessful campaign.
Last August, it was reported that so much money was spent on Harris and the wider election cycle that the DNC was still having to pay off its debts.
NYTIMES: Kamala Harris ended her failed $1.5 billion campaign with $20 million in unpaid bills, which the DNC had secretly agreed to cover. Since then, Harris has been raising money from donors without disclosing the money was actually gong to pay off her campaign debt! pic.twitter.com/ivPKrrfGCM
— Tom Fitton (@TomFitton) August 25, 2025
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