The Democratic Congressional Campaign Committee outraised their GOP counterparts in the first month of the year, but they still carry $18.6 million in debt from last cycle and used little of the $4.4 million they brought in during January to pay down that debt.
According to monthly reports filed Sunday with the Federal Election Commission, the National Republican Congressional Committee raised just over $3 million during January. The NRCC still has $10.5 million of their own debt, same as they carried at the end of December, after paying down $1.5 million since the November elections.
However, the two committees are now on near parity with the amount of cash on hand. The DCCC transferred most of their new funds directly to their bank account, giving them nearly $3.4 million cash on hand, up significantly from the just $805,000 they had on hand at the end of December. The NRCC ended January with nearly $3.2 million cash on hand, up slightly from the $2.54 million in the bank at the end of year.
DCCC Chair Steve Israel had touted his committee's record monthly haul this week, pointing to it as an enthusiastic sign for the now-minority party, although he admitted that their debt now is "marginally higher" than in the past.