Republicans Face Worst Cash Problem in a Decade

The Republican Party is strapped for cash, with reports showing that its organizing committee, the Republican National Committee (RNC), has its smallest amount of cash on hand in a decade.

According to its latest filing with the Federal Election Commission (FEC), the RNC has $8 million cash on hand, the party's lowest fundraising year since 2013.

The report comes amid a flurry of financial problems for the GOP governing body. At the end of November, it reported its lowest bank balance at that point in any year since 2016, FEC disclosures showed. With $9.96 million in spending money, the RNC had less than half the $21.35 million it reported in 2016 after Donald Trump won the presidential election.

Newsweek reached out to a representative for the Republican Party by email for comment.

Todd Landman, professor of political science, School of Politics and International Relations at the University of Nottingham in the U.K., told Newsweek "the RNC is running very low on cash."

"Elections in the U.S. have become increasingly expensive and not just for the presidential race," he said. "Candidates fundraise for themselves, but the parties also need sizeable war chests to support the electoral efforts. The current financial reporting suggests that the RNC is running very low on cash and will need to raise more funds.

"The figures also suggest that donors have been reluctant to support the party as they have in the past, which is a troubling indicator for voter support for the November elections. There may be a waiting game occurring, where donors are watching the progress of the legal developments with respect to Mr. Trump and the electoral fortunes of Nikki Haley in the primaries, especially the South Carolina primary and Super Tuesday. We will know much more by early March and then we can see what happens with finance."

Ronna McDaniel, who has served as the RNC chair since 2017, has been criticized for the funding issues as well as for the Republicans losing multiple elections since 2020, leading to calls for her to resign.

Meanwhile, 18 state branches of the Republican Party have debt totaling $11,062,31.79 to various entities.

The state with the largest Republican debt is Minnesota, which has accrued $458,707.80. Despite this, the party increased its cash on hand from $1,124.28 on January 1, 2023, to $164,955.65 on November 30, having raised more money than it spent in the reporting period, raising $1,195,064.12 and spending $1,032,084.57.

The North Carolina Republican Party has accrued $72,000 in debt and also spent more than it raised and used up its cash reserves.

However financial problems are not limited to the GOP. Twenty-three branches of the Democratic Party owe a total of $16,468,94.81.