RNC sinks millions into campaign arms

Republican National Committee (RNC) Chairman Michael Steele will hand
over seven-figure checks to his party’s House and Senate campaign arms, the
committee announced Thursday.

The RNC will write checks for $1
million each to both the National Republican Congressional Committee (NRCC) and the
National Republican Senatorial Committee (NRSC), money that will help the two campaign
arms dig themselves out of the debt they incurred during the 2008 cycle.

{mosads}”The Republican National Committee
stands by our outstanding leaders in both houses of Congress. This is an
investment in strong, principled Republican leadership,” Steele said in a
statement.

Through the end of January, the NRCC
held $1.14 million in the bank with $6.5 million in debt left on the books. The
NRSC reported just shy of $4.9 million in debt at the end of 2008, with about
$750,000 cash on hand.

“Each of us in House Republican
leadership appreciate Chairman Steele’s early contribution to our effort to
fight our way back to the majority,” NRCC Chairman Pete Sessions (Texas)
said in a statement.

Sessions also thanked Steele for his
commitment to winning New York’s 20th district, vacated by Sen. Kirsten
Gillibrand (D-N.Y.). Steele has participated in two events on behalf of Republican
candidate Jim Tedisco, including hosting a fundraiser in New York City this
week.

Steele “is deeply committed to
rebuilding the party in blue states, and he’s putting action behind his words.
Not only has Chairman Steele personally been on the ground in New York twice,
his staff is fully engaged and helping to make sure we have a superior
grassroots turnout operation,” Sessions said. “Having worked with
Michael before, I look forward to partnering with him again as we work to
expand our party.”

Steele specifically mentioned the
special election to fill Gillibrand’s seat in his press release.

“I appreciate this strong
financial commitment from Chairman Steele and the RNC today.  For
Republican candidates to compete across the country in 2010, it is critical
that they have the necessary financial resources,” NRSC Chairman John Cornyn (Texas)
said in his own statement. “Strengthening and modernizing our fundraising
operations is a top priority for the NRSC this cycle, and this support from
Chairman Steele today helps us build on a strong foundation moving
forward.”

As Democratic campaign wings
significantly outraised their GOP counterparts throughout the 2008 cycle, the
RNC was the party’s lone bright spot, winning the fundraising war with the
Democratic National Committee on a consistent basis.

Though Democrats outraised
Republicans, they also significantly outspent the GOP and remain weighed down
by much higher levels of debt. The Democratic Congressional Campaign Committee
had $4 million in the bank through Jan. 31, a quarter of the colossal $16.3
million they still owe. The Democratic Senatorial Campaign Committee had less
than $300,000 on hand by Dec. 31, saddled with $10.9 million in debt.