Big donors have pulled back from giving to the party, and small donors are not growing enough to make up the gap.
The Democratic National Committee has fallen far behind in the cash race.
After a brutal 2024 election and several months into rebuilding efforts under new party leadership, the DNC wildly trails the Republican National Committee by nearly every fundraising metric. By the end of June, the RNC had $80 million on hand, compared to $15 million for the DNC.
And the gap — nearly twice as large as it was at this stage in Trump’s first presidency — has only grown in recent months, a POLITICO analysis of campaign finance data found, fueled by several distinct factors.
Major Democratic donors have withheld money this year amid skepticism about the party’s direction, while the small-dollar donors who have long been a source of strength are not growing nearly enough to make up the gap. And the party has quickly churned through what money it has raised in the first half of the year, including spending more than $15 million this year to pay off lingering expenses from Kamala Harris’ presidential campaign.
The DNC has less cash this summer than it did at any point in the last five years.
“I understand that donors want some kind of a reckoning,” said Steve Schale, a Florida-based Democratic strategist. “But I also think that the kind of state party building that I think [DNC Chair] Ken [Martin] wants to do at the DNC is really vital to our success. And so I hope people kind of get over themselves pretty quick.”
The fundraising troubles reflect ongoing questions about the DNC’s direction under Martin, who was elected earlier this year, and comes as the DNC has faced months of bitter infighting. Continued cash shortages could limit the party’s ability to rebuild for a new cycle. And the DNC’s money woes stand in particularly stark contrast to Republicans, who have leveraged President Donald Trump’s fundraising prowess to raise record sums.
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