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RNC considering new credit line to help climb out of money hole: report

A party official close to RNC Chairwoman Ronna McDaniel said the new credit line is not unusual, and that an authorization for more credit is done every year.

Published: January 27, 2024 1:42pm

The Republican National Committee is considering a plan to open a line of credit to compensate for a shortfall from their projected fundraising levels, according to The Washington Times.

The RNC will take up the issue at their winter meeting that starts Tuesday in Las Vegas. Their money problems, both with big-dollar and small dollar contributions, have been a concern since officials announced a $15 million shortfall last summer.

“They’re going to ask the members to take a vote on opening up a line of credit for the RNC, which would allow the RNC to borrow money,” one concerned RNC member told The Times.

A party official close to RNC Chairwoman Ronna McDaniel said the new credit line is not unusual, and that an authorization for more credit is done every year, in case the money is needed and whether they use it or not, according to the outlet.

One explanation for the shortfall is said to be the “Trump effect.” That theory says that many big contributors don’t want to support the former president, and many small contributors do not believe the RNC is sufficiently supporting him.

The Republicans might face even bigger problems as the race in the GOP primaries between former President Trump and former South Carolina Governor Nikki Haley continues to consume many millions of dollars.

According to The Associated Press, President Joe Biden and the Democratic National Committee said they raised more than $97 million in the final quarter of 2023, and that the Biden campaign took in $235 million since it launched last April through the end of 2023, ending the year with $117 million in cash on hand.

In contrast, the two main super PACs supporting Nikki Haley have spent over $100 million in the past year, while the main pro-Trump super PAC has spent about $50 million, according to Reuters

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