Cash dash: Republican National Committee tops Democratic rival in first quarter fundraising

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FIRST ON FOX: The Republican National Committee reports bringing in a record $17.6 million in fundraising last month as it keeps building resources towards November's midterm elections, when the GOP aims to win back House and Senate majorities.

The RNC says last month’s fundraising haul, which was shared first with Fox News on Wednesday, is the most it’s ever raised in the month of March during a midterm election year. The March total brings to $47 million the amount the committee raked in during the January-March first quarter of 2022 fundraising. 

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The RNC also reported holding $44.9 million cash on hand as of the end of March, with no debt.

"The American people are sick and tired of the Biden gas hike, skyrocketing prices and failed Democrat policies that continue to hurt their pocketbooks," RNC chair Ronna McDaniel said.

Republican National Committee chair Ronna McDaniel speaks with Fox News at the Republican Jewish Coalition's annual leadership meeting, in Las Vegas, Nevada on Nov. 5, 2021 (Fox News )

The RNC for the third month in a row narrowly edged the rival Democratic National Committee in the fundraising battle. Earlier Wednesday the DNC and its joint fundraising arm reported bringing in a record $16.8 million in March and over $42 million during the past three months.

McDaniel emphasized that "the Republican National Committee once again outraised Democrats and we continue to invest in our data driven ground game, election integrity, and fight to win the House and Senate to bring back our country from the brink of Socialism."

While the RNC topped the DNC in fundraising, the Democrats retain a cash on hand advantage. The DNC reported $57.2 million in their coffers at the end of March.

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The DNC spotlighted their grassroots appeal, noting that 98% of their first quarter donations were $200 or less.

National party fundraising is a key barometer of donor and voter enthusiasm ahead of the midterms, and the money raised can be used — among other things — for party staffing in key battlegrounds, grassroots and other get-out-the-vote efforts, campaign ads, and can be transferred the party's House and Senate re-election committees.

The GOP needs a net gain of just one seat to recapture the majority in the 100-member Senate they lost when they were swept in the Jan. 2021 twin runoff elections in Georgia. And Republicans need a net gain of five seats in the 435-member House of Representatives to win back the majority the Democrats captured in the 2018 midterms.

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The Democrats are facing a difficult political climate fueled in part by President Biden’s underwater approval ratings. And they’re also facing historic headwinds this year, as the party that wins the White House traditionally suffers setbacks in the ensuing midterms.