Republicans Are Running Out of Money

Written by Nate Hochman

What’s happening: The 2024 election is rapidly approaching, but the Republican National Committee (RNC) is struggling to raise money. It only adds more fuel to growing calls to oust Chairwoman Ronna McDaniel.

Cause for alarm: The RNC had just $9.1 million cash on hand as of October 30 — the lowest amount it has reported since February 2015. It’s only a little more than half of what the Democratic National Committee reported in its October Federal Election Commission filing.

Why it matters: The RNC’s fundraising problems are not helpful for McDaniel, who presided over three losing election cycles in a row. She can’t be blamed for all of the GOP’s failures, but McDaniel’s mismanagement has played a role in the party’s systemic electoral problems.

• A record of failure: Under McDaniel’s tenure, the GOP has been plagued by persistent voter turnout issues, and has struggled to match the Democrat Party’s small-dollar fundraising machine. The RNC has also been accused of leaving down-ballot candidates out to dry, failing to provide the necessary funding and support to win critical state-level races.

Well-known: The last RNC election in January included multiple polls that showed the overwhelming majority of Republican voters opposed giving McDaniel another term as chair. However, in the face of a growing pile of campaign failures and now these money woes, some in the GOP’s decision to back McDaniel’s re-election may now be regretting their January vote.