|For Immediate Release
August 18, 2004
CONGRESSIONAL FUNDRAISING CONTINUES TO GROW
WASHINGTON -- Congressional campaigns raised a total of $798.7 million in the 18 months of the 2003-2004 election cycle ending June 30, an increase of 32% from the comparable period in the 2001-2002 campaign, according to a compilation by the Federal Election Commission.
The Commission found that 1,908 Senate and House candidates spent $487.1 million from January 1, 2003 through June 30, 2004 (up 36% from 2002), and reported cash on hand of $482 million (up 29%) at the end of the second quarter of 2004.
Much of the increase has occurred in Senate races where candidates in this cycle's 34 Senate campaigns reported receipts of $337.9 million, disbursements of $209.1 million, and cash balances of $181.6 million. This represents a 67% increase in fundraising, a 90% increase in spending, and a 65% increase in cash-on hand over 2002 levels.
Comparisons across election cycles are particularly difficult for Senate races because the states involved vary and also a few campaigns can significantly affect totals. For example, in 2004 there are Senate campaigns in several large states that typically are more expensive. California , New York , and Pennsylvania have incumbents seeking reelection, and there are open seat races in Florida and Illinois .
House campaigns raised $460.8 million (up 14.5% from 2002 levels) and spent $278.1 million (12.2% above previous cycle totals). They reported a cash balance of $300.4 million as of June 30. Receipts by Republican candidates increased 28% with large increases for challengers and incumbent candidates and a decline in overall receipts for open seats. Democratic candidates' receipts were 1% higher than in the last cycle with increases for incumbent and challenger candidates offset by a large decline for open seats. Both the number of open seat candidates and their financial activity declined in 2004 with the smallest number of open seat campaigns since 1990. Tables and charts that follow, however, show that median receipts grew in 2004 for all types of House campaigns except Democratic challengers where median receipts fell 17% to just under $30,000.
Contributions from individuals totaled $484.9 million and continue to be the largest source of receipts for Congressional candidates, representing 60.7% of all fundraising as of June 30. PAC contributions totaled $188 million or 23.5% while candidates themselves contributed or loaned a total of $97 million which was 12% of all receipts. Contributions from individuals grew by 37% when compared with the same time period in the 2002 campaign, while PAC contributions increased by 11% and contributions and loans from candidates themselves were 81% greater than 2002 totals.
Tables attached to this release offer summary data for Senate and House candidates by political party, as well as by candidate status (incumbent, challenger, or open seat). Also included are rankings of Senate and House candidates for the following categories: receipts, individual contributions, PAC and other committee contributions, contributions and loans from the candidate, disbursements, cash-on-hand, and debts owed. Six-year financial summaries of Senate candidates for 2004, as well as current cycle financial summaries for each House campaign are also attached.
This release and the data contained in it are also available on the FEC's web site at http://www.fec.gov under News Releases or Campaign Finance Reports and Data.
Figures in the first two tables and the detailed listings of candidates cover from January 1, 2003, or whenever the campaign registered during the year, through June 30, 2004.
Net receipt and net disbursement figures are total receipts and total disbursements, as reported by the campaigns, minus any money transferred between committees of the same campaign.
Columns entitled “Contrib from Other Cmte's” are monies contributed to campaigns by PACs and other committees as reported by the campaigns. Other committees consist primarily of committees of other candidates.
On the Senate listings, the column titled “Candidate Support” includes contributions by the candidate as well as loans made or guaranteed by the candidate. The column titled “Trans from Other Auth.” Includes moneys transferred from House committees of candidates for the Senate, as well as proceeds from joint fundraising activity among several candidates or committees. Contributions from individuals and PACs made through these joint fundraising efforts are NOT included in the “Individual Contributions” or “Other Cmte Contributions” columns.
Open-seat races are those in which the incumbent did not seek reelection.
Some House members who are or were running for the Senate in 2004 changed their former House campaign committees into their Senate campaign committees. Financial activity related solely to their Senate campaigns cannot be isolated. (See Peter Deutsch [FL],Denise Majette [GA], John Thune [SD] )
Several candidates report significant debts, at least some of which were incurred in previous election cycles. These include;
Darrell Issa (CA)
Erskine Bowles (NC)
Robert Bennett (UT)
James Cooper (TN)
Christopher Chocola (IN)
Rahm Emanuel (IL)
Richard Renzi (AZ)
Robert Beauprez (CO)
Terry Everett (AL)
9. Party abbreviations in the listing of House campaigns are:
DEM - Democrat LIB - Libertarian
DFL - Democrat/Farmer/Labor (MN) PAF - Peace and Freedom
REP - Republican IND - Independent
RTL - Right to Life LBL - Liberal