Following the November election losses, Democrats are facing a complex financial landscape, as revealed in new federal filings. The Democratic National Committee (DNC) stands in a strong position with over $47 million in the bank and no debts, despite recent staff reductions. In contrast, a prominent liberal super PAC, Future Forward, is grappling with nearly $50 million in unpaid bills, primarily related to advertising expenses.
Vice President Kamala Harris' campaign, which spent over $1 billion in its unsuccessful bid against Donald Trump, reported $1.82 million in cash on hand as of November 25. The post-election period saw Harris' campaign spending over $270 million, reflecting the intense final push to secure the presidency.
While the recent FEC filings offer a snapshot of the financial status, Democrats are still addressing outstanding invoices and accounting matters as they wrap up the costly presidential race. The full scope of Democrats' finances may only become clear in January when year-end reports are submitted to the FEC by candidates, parties, and outside groups.
Despite the financial challenges, Democrats have continued their fundraising efforts post-election, with a focus on supporting candidates at all levels. Harris' joint fundraising committee with national and state Democratic parties recently launched the 'Harris Fight Fund' program to elect Democrats and strengthen the party. The program directs proceeds to the DNC to bolster the national party's financial position.
Future Forward, the main super PAC supporting Harris, faces scrutiny for its $47.3 million in debts as of November 25, mainly attributed to advertising costs. However, the group's representative clarified that these figures are not actual debts but rather an FEC requirement to report estimated advertising spending in real-time. The upcoming report is expected to reflect the payments made towards these expenses.
