Corporate America continues to threaten to pull campaign contributions from the 147 Republicans who voted to not certify the results of the 2020 presidential election, yet this has made no dent in Republicans’ fundraising strength as Democrats govern left at alarming speed.
According to financial disclosures made public by the Federal Election Commission, the Republican National Committee raised $16.3 million in January compared to the Democratic National Committee’s $13.5 million. That’s about $3 million more.
The Democratic Senatorial Committee raised $6 million while the National Republican Senatorial Committee raised $8.3 million in January, as previously reported by The Federalist. The National Republican Congressional Committee outpaced the Democratic Congressional Campaign Committee by half a million in the month of January as well—$7.5 million to $7 million.
“Bolstered by our strength in low-dollar donations, the NRSC is well-equipped, ” NRSC Chairman and Sen. Rick Scott of Florida said in early February. Grassroots and small-dollar donations are outpacing large donations from corporate actors for Republican candidates, matching a fundraising trend accelerated by Donald Trump’s takeover of the party.
The GOP maintains a $38 million advantage in fundraising on a national level heading into the critical 2022 midterm elections. The DNC has $45 million, while the RNC has $83 million. The NRSC has $17 million, while the DSCC comes in at $9 million in the account. The DCCC also maintains $13 million in debt in terms of cash-on-hand. The Republican committee ended the 2020 year with no debt.
While corporate political action committees either threatened or suspended GOP donations following the latest Capitol unrest, financial support for the Republicans has not faltered. Some corporations have suspended donations to both Democrats and Republicans following Jan. 6, in an attempt to seem nonpartisan.
In January 2020, the NRSC raised 50 percent more than it did in January 2019. The average donation was $32, demonstrating the degree to which Republicans are not beholden to corporations and dark money in the same way the Democratic Party is. In the 2020 election cycle, for instance, Democrats relied on $145 million in dark money to elect President Joe Biden, compared to $28 million going to the Republican Party.
The money raised by the Republican Party will prove to be tremendously important in the 2022 midterm elections, as the GOP attempts to win back the House and Senate.
Gallup research found that presidents with an approval rating of 50 percent in the midterm election season lose on average 14 House seats in their own party. With Biden hovering at about 55 percent currently, Democrats would want to increase this margin substantially in order to ideally not lose their 221 to 210 House majority of 11 seats.
The farther left the Biden administration governs, alienating many Americans who believed his promises to govern as a “moderate,” the less likely it seems his approval rating will improve.