WASHINGTON (AP) — Making progress at whittling down a once-enormous debt, the Democratic National Committee on Friday reported it had raised more than its GOP rival in May and cut its red ink to less than $5 million for the first time since July 2012.
The DNC raised almost $8.8 million in May but still owed $4.9 million to vendors who produce campaign ads, mail and data providers. The central party also reported it had $7.9 million in the bank.
The Republican National Committee, meanwhile, raised almost $8.2 million in May, according to its Federal Election Commission filings. It was carrying no debt and had an almost 2-to-1 advantage over the DNC, with $13.5 million in the bank.
The RNC has outraised the DNC in 10 of the last 17 months.
“Strong fundraising, a winning message and an unpopular president are the key ingredients for victory in November,” RNC Chairman Reince Priebus said in a statement.
The DNC amassed significant debt as it spent heavily on President Barack Obama‘s successful re-election bid in 2012. At the end of July 2012, the DNC reported almost $4.8 million in red ink. That number ballooned to a high of almost $23 million in March of 2013 as bills came due and donors tired of giving.
The DNC has raised $107 million since January 2013. The RNC has raised $123 million in that same period.