DCCC pays down debt; raises $6.7M in June

{mosads}In June, the committee paid down the final $2.1 million it owed of a $17 million loan it took out for the 2012 cycle, nine months ahead of schedule. The National Republican Congressional Committee had $4.8 million in debt at the end of May.

A DCCC aide suggested the funds freed up by paying down the loan — and no longer needing to shell out interest payments on it — would boost the committee’s prospects for the uphill battle they face in trying to expand the map in 2014.

Democrats need 17 seats to regain the majority, but their prospects in 2014 are daunting, as the party holding the White House typically faces losses in a midterm election, and few truly swing districts remain after redistricting solidified the partisan slant of many districts nationwide.

But despite being in the minority, the Democratic committee has outperformed its Republican counterpart. The National Republican Congressional Committee hasn’t yet released its June numbers, but in May, the DCCC outraised the NRCC by $1.4 million and had $2.5 million more cash on hand.

At the end of June, the DCCC had $13.2 million cash on hand.

The committee raised $18.2 million in the second quarter, and has raised $40.8 million this year overall.

That strong fundraising showing was due in part to President Obama’s help. The president has appeared at three fundraising events for the committee and has five more planned.

Members, too, have been stepping up to help the committee.

Five members — Chairman Steve Israel (N.Y.), Chris Van Hollen (Md.), Xavier Becerra (Calif.), Henry Cuellar (Texas) and Joe Kennedy (Mass.) — have paid all of their dues, and 75 percent of the caucus overall have paid some dues.