Democrats Best GOP in Midyear Senate Money Chase
The Democratic Senatorial Campaign Committee (DSCC), which orchestrates the party’s national effort in Senate elections, used a big month of fundraising in June to surge past its partisan counterpart, the National Republican Senatorial Committee (NRSC), in the money chase for the first half of 2009.
The DSCC raised $12.8 million for the year’s second quarter (April 1-June 30) — including $6.2 million just last month — to give it a total of $23.1 million in receipts for the first six months of the year. The NRSC had $3.4 million in June receipts, giving it $11 million in second quarter and $20.1 million in receipts on the year.
The DSCC also enjoyed a significant lead in money still in the bank, with $7.9 million in cash on hand to $4.3 million for the NRSC. This was the case even though the Democratic committee has been addressing its one clear financial disadvantage: While the NRSC reports no outstanding debt, the DSCC has been making “significant debt payments.”
The DSCC’s debt total, which stood at $11 million at the beginning of the current election cycle, was largely the result of borrowing during the home stretch of the 2008 campaign as the party made a final push for its big eight-seat gain. The committee reduced its red ink total to $3.7 million by the end of June.