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|For Immediate Release
May 11, 2004
CONGRESSIONAL FUNDRAISING CONTINUES TO GROW
WASHINGTON -- Congressional campaigns raised a total of $ 583.3 million in the 15 months of the 2003-2004 election cycle ending March 31, an increase of 35% from the comparable period in the 2001-2002 campaign, according to a compilation by the Federal Election Commission.
The Commission found that 1,655 Senate and House candidates spent $331.3 million from January 1, 2003 through March 31, 2004 (up 46% from 2002), and reported cash on hand of $421.6 million (up 27%) at the end of the first quarter.
The following table summarizes Congressional campaign finance activity during comparable periods since 1990.
Much of the increase has occurred in Senate races where candidates in this cycle?s 34 Senate campaigns reported receipts of $253.5 million, disbursements of $140.6 million, and cash balances of $165.3 million. This represents a 74% increase in fundraising, a 123% increase in spending, and a 67% increase in cash-on hand over 2002 levels.
Comparisons across election cycles are particularly difficult for Senate races because the states involved vary and because a few campaigns can significantly affect totals. For example, in 2004 there are Senate campaigns in several large states that typically are more expensive. California, New York, and Pennsylvania have incumbents seeking reelection, and there are open seat races in Florida and Illinois.
House campaigns raised $329.8 million (up 15.5% from 2002 levels) and spent $190.7 million (17% above previous cycle totals). They reported a cash balance of $256.3 million as of March 31. Receipts by Republican candidates increased 30% with large increases for challengers and open seat candidates while Democratic candidates? receipts were 8% higher than in the last cycle with much of that increase confined to incumbent candidates.
Contributions from individuals totaled $349.9 million and continue to be the largest source of receipts for Congressional candidates, representing 60% of all fundraising as of March 31. PAC contributions totaled $137 million or 23% while candidates themselves contributed or loaned a total of $74.8 million which was 13% of all receipts.
Tables attached to this release offer summary data for Senate and House candidates by political party, as well as by candidate status (incumbent, challenger, or open seat). Also included are rankings of Senate and House candidates for the following categories: receipts, individual contributions, PAC and other committee contributions, disbursements, cash-on-hand, and debts owed. Six-year financial summaries of Senate candidates for 2004, as well as current cycle financial summaries for each House campaign are also attached.
This release and the data contained in it are also available on the FEC?s web site at http://www.fec.gov under News Releases or Campaign Finance Reports and Data.
1. Figures in the first two tables and the detailed listings of candidates cover from January 1, 2003, or whenever the campaign registered during the year, through March 31, 2004.
2. Net receipt and net disbursement figures are total receipts and total disbursements, as reported by the campaigns, minus any money transferred between committees of the same campaign.
3. Columns entitled ?Contrib from Other Cmte?s? are monies contributed to campaigns by PACs and other committees as reported by the campaigns. Other committees consist primarily of committees of other candidates.
4. On the Senate listings, the column titled ?Candidate Support? includes contributions by the candidate as well as loans made or guaranteed by the candidate. The column titled ?Trans from Other Auth.? Includes moneys transferred from House committees of candidates for the Senate, as well as proceeds from joint fundraising activity among several candidates or committees. Contributions from individuals and PACs made through these joint fundraising efforts are NOT included in the ?Individual Contributions? or ?Other Cmte Contributions? columns.
5. Open-seat races are those in which the incumbent did not seek reelection.
6. Some House members who are or were running for the Senate in 2004 changed their former House campaign committees into their Senate campaign committees. Financial activity related solely to their Senate campaigns cannot be isolated. (See Peter Deutsch [FL],Denise Majette [GA], John Thune [SD] )
7. Several candidates report significant debts, at least some of which were incurred in previous election cycles. These include;
9. Party abbreviations in the listing of House campaigns are: