Major parties raise $555.2M

The Democratic and Republican Parties have reported raising $555.2 million in hard money at the national, state and local levels during the first 15 months of the 2006 election cycle—five percent more than they raised during a comparable period in 2004. Fundraising from federal sources was only one percent lower than total fundraising during the same period in 2002, even though soft money was permitted in that cycle.

The 2006 election cycle is the second in which national parties have been prohibited from receiving soft money—funds from sources or in amounts not permitted in federal elections. The accompanying table shows hard money fundraising by national party committees from January 1, 2005 through March 31, 2006 compared with both hard and soft money receipts from previous cycles.

During this period, Democratic Party committees reported raising $221.7 million—an increase of 23 percent over the same period in 2004. Republican Party committees raised $333.4 million—four percent less than 2004. Federal fundraising by parties has often been stable or even declined slightly in cycles without a Presidential campaign. While Democrats closed the gap in fundraising with their Republican counterparts, Republican Party committees still raised nearly $112 million more than Democrats. Contributions from individuals continue to be the largest source of funds for all party committees, representing more than 78 percent of all Democratic party funds and 89 percent of Republican fundraising. One of the changes included in the Bipartisan Campaign Reform Act of 2002 was an increase in contribution limits for individuals giving to national party committees. The limit changed from $20,000 per year prior to passage of BCRA to $25,000 in 2003-2004 and $26,700 in 2005-2006, due to indexing for inflation.

Contributions from PACs, whose limits were not changed by BCRA, accounted for ten percent of overall Democratic receipts and six percent for Republicans.

Transfers to party committees from the campaigns of individual members of Congress have played an increasing role in party finance during recent cycles. Nearly 20 percent of funds raised by the Democratic Congressional Campaign Committee came directly from Democratic House members’ campaigns. Republican members accounted for six percent of National Republican Congressional Committee funds.

Further Information

For more information on party committee statistics, please see the May 17, 2006 Press Release entitled “Party Financial Activity Summarized” on the FEC website, www.fec.gov. This release includes extensive statistics such as:

• Democratic Party Committee Financial Activity;
• Republican Party Committee Financial Activity;
• National Party Contributions from Individuals by Size;
• Senatorial Campaign Committee Contributions from Individuals by Size;
• Congressional Campaign Committee Contributions from Individuals by Size;
• Campaign Committee Transfers to Party Congressional Committees;
• Joint-Fundraising and Campaign Committee Transfers to Party Senate Committees; and
• National Party Transfers to States.