Republicans Have a Money Problem

Alarm bells are rattling within the Republican National Committee (RNC) as the party's finances take a hit ahead of the 2024 election, according to a report by The Washington Post.

In the piece published Monday, several sources familiar with the GOP's fiscal status told the Post that donations to the party have dropped in recent years, and the loss of revenue has sparked renewed questions about RNC Chairwoman Ronna McDaniel's leadership. According to filings with the Federal Election Commission (FEC), the Republican Party had about $9.1 million in cash on hand as of October 31—the lowest amount for the committee in any commission report since February 2015, read the report.

Democrats are holding onto almost double the amount of cash as Republicans. The Democratic National Committee reported that it had roughly $17.7 million at the end of October, according to the FEC.

Sources who spoke with the Post said that both large- and small-scale GOP donors have cut back on funding the party in recent years for myriad reasons. Some said their reluctance to donate stems from RNC funding also being used to aid the reelection bid of former President Donald Trump, who substantially leads the GOP's primary race in preliminary polls. Others told the outlet that donors are frustrated with the leadership of McDaniel, who has faced increased pressure from members of her party as Republicans continue to get smacked by disappointing election outcomes.

Republicans reacted to Monday's report over social media, with some echoing that Trump's hold on the party is likely to blame for the GOP's lack of cash. The former president has also faced criticisms for Republicans' poor election performances since his loss to President Joe Biden in 2020.

"If the RNC is indeed 'broke' or not getting the kind of donations they once received, it is #MAGA's fault," said Bill Post, former Republican state legislator from Oregon, in a post to X, formerly Twitter.

"Trump and all of his fans are the ones cranking out the mantra that 'muh polls' show he's going to win, thus negating the need people might feel to donate," he added.

Others called on leadership within the GOP to address the issue head-on, including conservative activist Scott Presler, who said on X, "Many of those running voted for the current party leadership. They need to answer for the abysmal fundraising, years of losses, & their votes. Something has to change."

Prominent conservative commentator Laura Ingraham simply noted alongside a link to the Post's report, "This is a real problem."

But according to McDaniel, who was interviewed by the Post, the party's financial strife will turn around once there is a nominee for the 2024 election, stating that most donors are "fully committed to their candidate" of choice at the moment.

"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," the chairwoman added.

Still, prominent voices in the Republican Party have repeatedly called on McDaniel to resign, including presidential hopeful Vivek Ramaswamy, who blamed the chairwoman for turning the GOP into "a party of losers" during his opening remarks at the most recent primary debate.

"When you have the RNC and when you're in this position, there's always going to be outside groups criticizing because it helps them raise money," McDaniel told the Post. "They have to have a foil, right? So you're going to go against the RNC because it helps your organization raise money and do things."

Despite the pressure against her, Trump has previously been a supporter of McDaniel, including backing her reelection campaign in January early this year. But the former president has started to issue ultimatums against the RNC, which he argues is wasting money on primary debates, given that polling numbers show Trump as the clear front-runner for the GOP nomination.

"RNC must save money on lowest ever ratings debates," Trump said in a post to Truth Social last week. "Use it against the Democrats to STOP THE STEAL! If not, REVAMP THE RNC, NOW!!!"

Newsweek reached out to Madison Gesiotto Gilbert, RNC's national spokesperson, via email for comment Monday afternoon.