News Releases, Media Advisories
|For Immediate Release
August 6, 2004
PARTY FUNDRAISING CONTINUES TO GROW
WASHINGTON – Party fundraising in 2004 has maintained the strong pace begun in 2003. The most recent reports filed with the Federal Election Commission (FEC) by national, state, and local committees of the two major parties show that the Republican committees raised $464.7 million between January 1, 2003 and June 30, 2004 , in federally permissible “hard money” while the Democratic committees raised $278.2 million. These represented increases of 64% for Republicans and 112% for Democratic committees when compared with the “hard money” totals for the same period in 2002. They are 96% and 113% greater respectively than the last presidential campaign in 2000.
The 2004 election cycle is the first in which national parties have been prohibited from receiving “soft money” as a result of implementation of the Bipartisan Campaign Reform Act of 2002 (BCRA). The following table shows “hard money” fundraising through June of this cycle compared with both hard and soft money receipts from the same period in previous cycles.
*Hard money totals only for State/Local parties in 2000 and 2002
Contributions from individuals continues to be the largest source of funds for all party committees, representing more than 78% of all Democratic party funds and more than 93% of Republican party receipts. While BCRA eliminated soft money for national committees, contribution limits for individuals were increased from $20,000 per person to $25,000 per person per year. The two national committees have relied more heavily on these maximum hard money contributions in 2004. The DNC has thus far received 18% of its individual contributions in $25,000 increments compared with 20% for the RNC. At the same point in 2000, the DNC had received 10% of its individual contributions in increments of $20,000 each (the limit at the time) while the RNC received 6% of its contributions in maximum contribution amounts.
Tables in this release include financial overviews for national and state/local committees of the two major parties for the 18 month period. Transfers from national to state parties are listed by state, as are national party proceeds from joint fundraising committees and transfers from candidate committees to the national Senatorial and Congressional committees.
BCRA also included a provision permitting state and local parties to receive some limited funds raised under federal and state law for purposes that would indirectly affect federal elections such as get-out-the-vote activities. Thus far, 14 party committees have reported raising $1.5 million in these “Levin funds.” They have reported spending $235,102 in Levin funds.