{"id":1030348,"date":"2024-03-26T17:16:30","date_gmt":"2024-03-26T17:16:30","guid":{"rendered":"https:\/\/democrats.org\/?p=1030348"},"modified":"2024-05-10T19:22:30","modified_gmt":"2024-05-10T19:22:30","slug":"icymi-the-daily-beast-the-rncs-fundraising-hole-is-even-deeper-than-it-looks","status":"publish","type":"post","link":"https:\/\/democrats.org\/news\/icymi-the-daily-beast-the-rncs-fundraising-hole-is-even-deeper-than-it-looks\/","title":{"rendered":"ICYMI: The Daily Beast: The RNC\u2019s Fundraising Hole Is Even Deeper Than It Looks"},"content":{"rendered":"\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" height=\"341\" width=\"1024\" src=\"https:\/\/democrats.org\/wp-content\/uploads\/2024\/05\/War-Room-Master-Image.png?w=1024\" alt=\"\" class=\"wp-image-1031397\" srcset=\"https:\/\/democrats.org\/wp-content\/uploads\/2024\/05\/War-Room-Master-Image.png 1500w, https:\/\/democrats.org\/wp-content\/uploads\/2024\/05\/War-Room-Master-Image.png?resize=300,100 300w, https:\/\/democrats.org\/wp-content\/uploads\/2024\/05\/War-Room-Master-Image.png?resize=768,256 768w, https:\/\/democrats.org\/wp-content\/uploads\/2024\/05\/War-Room-Master-Image.png?resize=1024,341 1024w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p><strong>Key Point:<\/strong> \u201cAn analysis of the RNC\u2019s various bank accounts indicates that the national party\u2019s financial status, which the GOP has been desperately trying to paint in a positive light, is even worse than it already seemed.\u201d<\/p>\n\n\n\n<p><a href=\"https:\/\/www.thedailybeast.com\/the-rncs-fundraising-hole-is-even-deeper-than-it-looks?ref=home?ref=home?ref=home\"><strong>The Daily Beast<\/strong><\/a>: <strong>The RNC\u2019s Fundraising Hole Is Even Deeper Than It Looks<\/strong><\/p>\n\n\n\n<p>By: Roger Sollenberger and Reese Gorman<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>It\u2019s no secret that the Republican National Committee is in dire financial straits. <strong>But what\u2019s less known is just how bad that situation really is.<\/strong>&nbsp;<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>However, a close examination of the RNC\u2019s recent financial statements reveals that those numbers are hiding some holes.<\/strong> A lot of the RNC\u2019s recent fundraising\u2014millions of dollars of it\u2014is unusable for political spending. Instead, that money can only support a limited range of activities. <strong>(As luck would have it, much of that money can be spent on Donald Trump\u2019s legal bills, potentially even to help pay down the judgments against him.)<\/strong><\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>An analysis of the RNC\u2019s various bank accounts indicates that the national party\u2019s financial status, which the GOP has been desperately trying to paint in a positive light, is even worse than it already seemed.<\/strong><\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The Daily Beast\u2019s analysis of Federal Election Commission filings found that, of the roughly $22.3 million that the RNC has reported raising this year, <strong>more than $8 million of it\u2014about 36 percent\u2014cannot be used for political expenses.<\/strong> (At this same point in 2020, the money in the RNC\u2019s Cromnibus accounts accounted for less than 10 percent\u2014$7.5 million\u2014of the total $77 million cash on hand.)<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>The upshot is that while the DNC\u2019s cash advantage has allowed the party to build up its main stash to fuel political activities, the RNC\u2019s financial strains could continue to multiply in unexpected ways as the 2024 election approaches.<\/strong><\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>The party is navigating a cash crunch brought on by a combination of poor fundraising and heavy spending, while facing the prospect of devoting major resources to help shore up down-ballot candidates, financially troubled state parties, and its presidential nominee, Trump<\/strong>\u2014who himself faces a fundraising crisis after siphoning tens of millions of dollars from supporters to fund his snowballing personal legal bills.<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>This pinch seems particularly tight when it comes to the RNC\u2019s \u201clegal\u201d account. <strong>The party has already committed to an aggressive so-called \u201celection integrity\u201d effort, which will be helmed by Trump\u2019s election-denying attorney Christina Bobb.&nbsp;<\/strong><\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u201c[E]lection challenges could destroy the RNC financially,\u201d<\/strong> the source continued, \u201cespecially if the adults in the room lose control and you see a bunch of frivolous lawsuits, with penalties and sanctions. And [new RNC chair Michael] Whatley, who\u2019s pigeonholed himself as the election integrity guy, he\u2019ll be blamed.\u201d<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>And while the national party has pledged not to pay Trump\u2019s personal legal bills, <strong>their new joint fundraising agreement prioritizes his Save America leadership PAC, where the majority of disbursements go towards Trump\u2019s stable of attorneys.<\/strong><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Key Point: \u201cAn analysis of the RNC\u2019s various bank accounts indicates that the national party\u2019s financial status, which the GOP has been desperately trying to paint in a positive light, is even worse than it already seemed.\u201d The Daily Beast: The RNC\u2019s Fundraising Hole Is Even Deeper Than It Looks By: Roger Sollenberger and Reese [&hellip;]<\/p>\n","protected":false},"author":263,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1030348","post","type-post","status-publish","format-standard","hentry","category-press-release"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.0 - 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