RNC Raises $6.2 Million in May; Debt Proves Stubborn
The Republican National Committee has announced it raised $6.2 million in May, bringing the committee's total haul for the year to "over $30 million." The RNC also boasts more than $6.1 million in cash on hand and "continues to pay down the debt."
However, that business of paying down their debt is proving to be a bit of a tough slog for the RNC. Since taking over as Chairman of RNC in January of this year, Reince Priebus has made it clear that his first priority is fundraising and paying down the committee's sizable debt, which is currently at $18.5 million.
Current RNC officials maintain that former Chairman Michael Steele left the committee's fiscal house in shambles with over $24 million in debt and donors frustrated over being ignored.
For his part Priebus is keeping the focus on the White House. "We are continuing to put this committee in the best possible position to be a partner to our nominee and ensure Barack Obama is a one-term president."
Meanwhile, the Democratic National Committee pulled in $10.5 million in May, and is sitting on $16.5 million in cash on hand, with $13.5 million in debt.
However, It is worth noting that $6.5 million, or over half, of the DNC's May fundraising number is courtesy of a transfer from the Obama Victory Fund, a joint fundraising account between the DNC and Obama's re-election campaign.