FEC Releases Fundraising Figures of Major Political Parties - Large Gain in Soft Money Contributions

For Immediate Release:                                                                     Contact:   Ian Stirton
September 22, 1999                                                                                              Ron Harris
                                                                                                                               Sharon Snyder
                                                                                                                               Kelly Huff


 


FEC RELEASES FUNDRAISING FIGURES OF MAJOR POLITICAL PARTIES

-LARGE GAIN IN ‘SOFT MONEY’ CONTRIBUTIONS-


Washington -- According to recent disclosure reports for the first six months of 1999,
Republican party committees raised $66.4 million for federal elections and spent $56.7
million from their federal ("hard money") accounts, while the Democrats had
receipts of $38.1 million and expenditures of $31.6 million. This is a 16% increase in
receipts for both parties when compared to the same period of 1997-98. When compared to
the same period in 1995-96, the last presidential cycle, Republicans registered a 4%
decrease in receipts, while the Democrats showed a 37% increase in receipts.

Contributions from individuals constituted the bulk of the receipts for both parties.
Republicans reported $59.4 million from individuals and $3.9 million from PACs. Democrats
reported $29.2 million from individuals and $4.5 million from PACs. In addition, Democrats
had $12.4 million cash on hand and debts of $5.4 million while the Republicans reported
cash on hand of $15.9 million and debts of $2.5 million. 

Both political parties continued to raise record amounts of soft money. Republicans
raised $30.9 million in soft money for the first six months of this year, a 42% increase
when compared to the first six months of the 1997-98 election cycle. Democrats raised
$26.4 million, a 93% increase. Soft money describes funds raised outside the limitations
and prohibitions of the Federal Election Campaign Act, and must be deposited in separate
non-federal accounts, not to be used in connection with federal elections.

Charts attached to this release provide summary data for the financial activities of
the two major parties during the first six months for the 1997-98 election cycle and
comparisons for the same period in the previous five election cycles. Comparable data on
non-federal party activity are available for only the previous four elections. The FEC
began requiring national party committees to disclose their non-federal accounts in
January 1991. 

-more-

Republican Party Federal
Activity

Democratic Party Federal
Activity

Republican Party
Non-Federal Activity

Democratic Party
Non-Federal Activity

Non-Federal Summary