DNC cuts debt to $3 million after strong June fundraising

WASHINGTON – The Democratic National Committee narrowly outraised its Republican rival last month and cut its debt to just $3 million, down from a onetime high of $23 million, according to federal financial forms due Sunday.

The DNC raised almost $9 million in June, while the Republican National Committee reported Sunday that it raised $8.5 million. Despite narrowly being edged out last month, the RNC still has $14.4 million in the bank – roughly twice the DNC’s almost $7.8 million.

Republicans have outraised Democrats in 10 of the last 18 months, although the RNC has done so only once since January of this year.

Since the election cycle began, in January 2013, the DNC has raised about $116 million. The RNC has raised about $132 million.

Both parties’ central committees tend to amass debt toward the end of a hard-fought presidential campaign, and the contest between President Barack Obama and former Massachusetts Gov. Mitt Romney was no exception. The DNC spent heavily to help Obama win a second term – and help motivate Democrats nationwide to support other candidates – but it went into debt to do so.

The DNC’s debt ballooned to a high of almost $23 million in March 2013 as donors, who opened their wallets throughout 2012, tired of giving during a politically quiet year. The DNC since has been paying down those costs and working to control its spending ahead of 2014’s midterms.

The RNC is not carrying any debt.