Kamala Campaign Debt Drags Democrats Down As GOP Fundraising Surges

The Democratic National Committee (DNC) is heading into the midterm cycle at a steep financial disadvantage versus Republicans, hamstrung by lingering debt from former Vice President Kamala Harris’s 2024 presidential campaign and lackluster donor enthusiasm.

The Republican National Committee (RNC) brought in $10.7 million in September and holds $86 million in cash reserves, according to the latest fundraising totals released this week. By contrast, the DNC raised $10.3 million and had just $12 million on hand.

Part of the challenge stems from debt left hanging after Harris’s failed presidential bid, which burned through $1.5 billion in an astonishingly short 107 days. The DNC paid $1.6 million in September alone to cover campaign obligations, bringing its total repayments tied to Harris’s campaign to more than $20 million so far, according to Axios.

The fundraising gap underscores deep frustration among donors with the DNC’s direction. Earlier this year, most top donors snubbed a San Francisco fundraiser featuring Harris, forcing the party to scramble for a host and ultimately raising far less than expected, people familiar with the event told The Wall Street Journal