According to the year-end financial disclosure documents submitted to the Federal Election Commission (FEC) in the lead-up to the midterm elections, the Republican National Committee (RNC) is temporarily far ahead of the Democratic Party in the fundraising competition. By the end of 2025, the RNC held a significant advantage of nearly $100 million, while the Democratic Party faced the challenge of starting the year in debt.
The report indicates that the RNC raised a total of $172 million in 2025, with cash on hand reaching $95 million by the end of last year. In comparison, the Democratic National Committee (DNC) raised $145 million throughout the year, but by the end of the year, they only had $14 million in cash on hand and still carried a debt of $17 million. This means that the financial situation of the Democratic Party heading into the new year remains in deficit.
Despite the significant financial gap at the national committee level, the committees responsible for congressional elections show a closer balance of power between the two parties.
The Republican House National Committee (NRCC) raised $13 million in the final month of 2025, with total fundraising for the year exceeding $117 million. On the other hand, the Democratic Congressional Campaign Committee (DCCC) followed closely behind with $115 million. As of early 2026, both committees held approximately $50 million in cash.
A similar trend is also seen in the Senate battleground. The Republican Senate National Committee (NRSC) raised $88 million in 2025, ending the year with $19.3 million in cash. The Democratic Senate Campaign Committee (DSCC) raised $79.8 million, with a slightly higher year-end cash balance of $21.7 million.
House Speaker Mike Johnson expressed optimism about the overall fundraising results for the Republican Party, believing they can not only maintain their “slim majority” in the House but also expand their advantage. “We will have ample funds to conduct the campaign,” Johnson said on Fox News Sunday.
However, these financial reports only reflect data from 2025 and do not account for the impact of the intense political changes since January 2026. Recent significant events, including the U.S. military operation to arrest Venezuelan President Nicolás Maduro and immigration law enforcement protests in Minneapolis, have shaken up the political landscape. It remains uncertain whether these events will lead to changes in donors’ and voters’ attitudes.
DCCC spokesman Viet Shelton remarked, “The momentum is on our side.” Shelton pointed out that the Democratic Party has stronger candidates and appeals, and believes that the Republican Party is “feeling fearful” due to competition. The Democratic Party is determined to regain control of the House.
(Adapted from relevant reports by The Associated Press)