The Democratic Congressional Campaign Committee announced Monday that it raised $20 million during the first three months of 2008 and finished March with $44.3 million on hand.

The committee, which has lapped the National Republican Congressional Committee in available cash all cycle, also reported paying off its last debts from the 2006 cycle in the first quarter of the year. It has raised $87.9 million so far this election cycle.

“The American people are energized and inspired by the strong candidates for change we’ve recruited across the country,” DCCC Chairman Chris Van Hollen (Md.) said in a statement.

The DCCC reported that it had the highest grass-roots fundraising quarter of the 2008 cycle, tripling its low-dollar fundraising from the same time last year. The DCCC said it now has more than 2 million donors this cycle.

At this point in the 2006 cycle, the DCCC had raised $57.7 million, had $23 million in the bank and was still carrying a $1.1 million debt from 2004.

The NRCC had not reported its quarterly fundraising totals by press time on Monday. They are due today at the Federal Election Commission.
— Josh Kurtz