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DNC Draws $15 Million Loan as RNC Reports $91 Million Cash Lead

Party leaders describe the early borrowing as a down payment on state wins.

Ken Martin, chair of the Democratic National Committee, speaks during an interview at DNC headquarters in Washington on Nov. 2, 2025.
DNC convention | (Getty Images)
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WASHINGTON, DC - MARCH 5: House Minority Leader Hakeem Jeffries (D-NY) speaks during an event with other House Democrats on protecting veterans, in Washington, DC on March 5, 2025. (Photo by Nathan Posner/Anadolu via Getty Images)

Overview

  • Federal Election Commission filings show the DNC opened a $20 million line of credit and tapped $15 million in October, finishing the month with about $18.3 million on hand.
  • The committee increased monthly transfers to state parties to more than $1 million and invested more than $3 million each in Virginia and New Jersey ahead of November races.
  • October spending reached roughly $16.9 million, the DNC’s highest monthly outlay this year, backing gubernatorial contests and targeted down-ballot efforts.
  • The RNC reported $91 million cash on hand at the end of October after raising $14.7 million that month, compared with the DNC’s $7.5 million haul.
  • DNC Chair Ken Martin defended the borrowing as necessary early investment, and filings this year also show the party covering about $18 million in expenses tied to Kamala Harris’s 2024 campaign.