DCCC Paid Off Little of Its Debt

Posted February 18, 2011 at 4:54pm

The Democratic Congressional Campaign Committee had nearly $19 million in debt as of Jan. 31.

DCCC Chairman Steve Israel had announced earlier in the week that his campaign committee had a record-breaking fundraising month in January, pulling in more than $4.4 million, but he did not disclose debt or cash on hand.

The DCCC reported debt exceeding $18.6 million and nearly $3.4 million in cash on hand as of Jan. 31, according to the monthly report made public by the Federal Election Commission. One month earlier, the committee had reported debt of $19 million and a cash balance of just $806,000.

The new numbers make clear that the campaign committee paid off very little of its debt with the influx of cash raised last month, instead choosing to bolster the size of its bank account.

The latest fundraising figures for the National Republican Congressional Committee are expected to be made public later tonight.