RNC raises $19 million, still owes $17.5 million

AP News
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Posted: Jul 18, 2011 11:24 AM
RNC raises $19 million, still owes $17.5 million

The Republican National Committee raised $19 million in the past three months but is still $17.5 million in debt.

The committee said Monday that it had raised $36.6 million this year, including $19 million in the second quarter, and had $7.3 million in the bank. RNC chairman Reince Priebus started his term in January with almost $25 million in red ink and has paid down $6.7 million.

The RNC's goal is to build up a fund to give to the party's eventual presidential nominee who will face President Barack Obama and his deep-pocketed re-election campaign.

The Democratic National Committee raised $38 million in the same April-to-June fundraising period. The DNC has $21.4 million in the bank.