DCCC Aims to Raise Record $154 Million This Cycle
by Jonathan Singer, Wed Nov 14, 2007 at 09:41:03 AM EST
The Democratic Congressional Campaign Committee currently holds better than a $27.6 million cash-on-hand advantage over the rival National Republican Congressional Committee, when debts and obligations are taken into account. Now, according to Bloomberg's Laura Litvan, the DCCC is looking to press that advantage.
House Democrats, eager to hold on to their new majority in the 2008 elections, are seeking to raise a record $154 million for the party from incumbent lawmakers -- more than four times the amount Republicans are trying to collect.An Oct. 24 tally sheet obtained by Bloomberg News outlines goals for each lawmaker. Together, they are being pressed to transfer $50 million in ``dues'' from their re-election war chests to the Democratic Congressional Campaign Committee and to raise another $104 million from outside donors.
[...]
Pelosi, who joined with other leaders in setting the goals for the House's 237 Democratic lawmakers and non-voting delegates, is to raise a total of $25.8 million. Majority Leader Steny Hoyer of Maryland and Majority Whip James Clyburn of South Carolina are each expected to produce a total of $3.3 million.
To this point (as of the end of September), the DCCC has brought in more than $52 million, which roughly puts them on track to raise somewhere in the $125 million to $130 million range by election day 2008. This would mean that the committee will have to speed up its fundraising efforts a tad in order to meet its overall goal. The committee has also brought in about $13.4 million in direct transfers from its members, putting in on track to raise in the $30 million to $35 million range. Again, this would mean the committee would have to ramp up its efforts a bit before it meets its mark.
I like the idea of the DCCC setting such an ambitious fundraising goal -- particularly given the fact that the committee intends to devote so much more resources to offense relative to defense than it has in previous cycles. With a huge amount of money in the bank and an enormous advantage in cash-on-hand over the NRCC, House Democrats could potentially build a significantly larger majority next fall, one that could prove enduring and more progressive than any other in recent memory.
Tags: dccc, Fundraising, House 2008 (all tags)
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