Fundraising Escalates for Political Party Committees

FUNDRAISING ESCALATES FOR POLITICAL PARTY COMMITTEES

WASHINGTON – Pre-election reports filed by the national committees of both major political parties show Republicans continue to hold a 73% fundraising lead over Democrats. However, since the last mid-term elections, the Democratic Party has increased its funding by 40% over 1993-94, while the Republican increase was only 16%.

From January 1, 1997, through October 14, 1998, Democratic Party national committees reported raising $106.9 million, and spending $105.5 million. They entered the last days of the campaign season with $5.1 million cash-on-hand and debts totaling $11.1 million.

Republican Party national committees raised $184.6 million, spent $177.5 million, and had $10.7 million cash-on-hand and $2 million in debts as of mid-October.

In direct support of federal candidates, Democrats have applied $7.8 million - contributing $715,788, making coordinated expenditures* of $6.7 million, and independent expenditures of $380,000. Republicans have directed $5.8 million toward federal campaigns, contributing $1.6 million and making $4.3 million in coordinated expenditures.

All of this activity relates to "hard money" raised by the federal accounts of the six national political party committees. None of the activity of the federal accounts of state and local party committees is included in this release.

In terms of "soft money," (funds raised outside the limitations and prohibitions of the Federal Election Campaign Act,) Democrats have raised $78.8 million, an increase of 84% over the same period in 1993-94. Republicans have raised $93.7 million, a 144% increase over the last mid-term elections. Much of this growth has come from the Senatorial and Congressional campaign committees of the two major parties.

The soft money accounts of the Democratic Party national committees have transferred $17.9 million to the various states. Republican Party national committees have transferred $25.9 million in soft money. Hard dollar transfers by the Democrats totaled $13.6 million. Republicans have transferred $9.5 million in hard dollars. These transfers to the states are listed in this release.

Charts attached to this release provide comparable data for four previous election cycles.

*Coordinated expenditures are monies spent by national and state party committees on general election nominees and are in addition to contributions They are limited in amount.

Democratic National Committees'''' Federal Activity