The Democratic Senatorial Campaign Committee and the National Republican Senatorial Committee will spend much of this year digging out from under a mountain of debt, according to new filings made with the Federal Election Commission on Monday.
Sen. Patty Murray (D-Wa.), who took over the DSCC earlier this year, will have to contend with $8.88 million in debt the committee incurred in the 2010 cycle. Sen. John Cornyn (R-Texas), taking his second turn at the head of the NRSC, will have to raise his way out of $6.5 million in debt.
The DSCC raised almost $2.5 million between November 23 and the end of the year, according to their report. They had $754,000 in the bank as of Jan. 1, the reports show.
The NRSC, meanwhile, had just $118,000 in the bank at the close of the year. Republicans pulled in $2.3 million in the final weeks of the year, according to reports obtained by the DSCC.
The DSCC outraised the NRSC during the 2010 cycle, besting their rivals by $12.6 million, thanks to fundraising help from Pres. Obama and the Democratic majority.
"One of the reasons we were able to beat back the Republican wave last cycle is because we outraised the other side," said Guy Cecil, the DSCC's new executive director. "Despite Republicans enjoying national momentum, we were able to amass the resources needed to wage aggressive campaigns in targeted states."
Don't Miss Today's Top Stories
Chock full of usable information on today's issues."
Michael, Executive Director
Concise coverage of everything I wish I had hours to read about."
Chuck, Graduate Student
The day's action in one quick read."
Stacy, Director of Communications
Great way to keep up with Washington"
Ray, Professor of Economics