The National Republican Congressional Committee will report ending the 2014 election cycle with an $8.8 million debt, according to figures released by the committee.  

After picking up at least a dozen seats in 2014, that’s some $3 million less than the hole the committee found itself in following the 2010 and 2012 cycles. The NRCC ended both with $12 million in debt .  

Post-general election reports, which cover Oct. 16 to Nov. 24, are due to the Federal Election Commission on Thursday. Taking on debt is a routine exercise for House and Senate campaign committees to finance late expenditures. Beyond the debt, the figures also shed light on the NRCC’s spending in the run-up to Election Day on Nov. 4.  

The NRCC spent $32.3 million in the final weeks of the elections, which saw House Republicans pick up at least 12 seats — a number that could increase in the coming weeks. Arizona’s 2nd District remains too close to call and is headed to a recount, with Republican Martha McSally leading Democratic Rep. Ron Barber by 161 votes.  

The committee raised $20.2 million during the post-general reporting period and had $3.1 million in cash on hand as of Nov. 24.  

The Democratic Congressional Campaign Committee has yet to report it’s post-general election numbers. In 2012, the DCCC took on $13.5 million of debt .  

Both committees will work to pay off their debt in the first few quarters of 2015.  

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