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Republicans Enter 2026 With Big Cash Edge as DNC Carries Debt

Year-end FEC filings set the financial baseline for the 2026 midterms.

Overview

  • The RNC closed 2025 with $95 million cash on hand and no debt, while the DNC reported $14 million in cash and $17 million in debt, according to filings.
  • The RNC raised $172 million across 2025 compared with $145 million for the DNC, underscoring a national party fundraising gap.
  • House campaign arms posted similar totals, with the NRCC raising more than $117 million to the DCCC’s roughly $115 million and both starting 2026 with about $50 million in cash.
  • In Senate races, the NRSC raised $88 million and ended the year with $19.3 million on hand, while the DSCC raised $79.8 million and held $21.7 million.
  • Reporters noted the NRCC held a slight cash edge and outraised the DCCC in December, and Townhall cites social-media data that the DNC paid $15.8 million in 2025 toward Kamala Harris’s 2024 campaign debt.