DCCC Secures $17M Loan to Fund Races
Posted at 5:10 p.m. on Oct. 24, 2012
The Democratic Congressional Campaign Committee today confirmed that it has taken out a $17 million line of credit to help fund the final stretch of the election cycle.
The influx of funds will help finance more media buys in a wide range of close races and, in turn, help balance out the barrage of GOP-aligned outside group dollars flowing into House races. While winning back control of the House remains a steep climb, Democrats aim to at least cut deeply into Republicans’ current 25-seat majority.
The National Republican Congressional Committee declined to comment on whether it has secured a loan.
The move, first reported by Politico, is a common strategy for national party committees late in the cycle. However, it leaves them in debt well into the following cycle. The DCCC paid off its $19.5 million debt left over from the 2010 cycle by the end of 2011.
According to the DCCC, it’s unlikely the committee will draw down all of the $17 million loan, which is expected to show up Thursday on its pre-general report to the Federal Election Commission.
The DCCC entered the cycle with the expectation that it would be outspent by the NRCC and GOP-aligned groups, so it invested in an enhanced targeting operation that it says has improved the efficiency of its media buying.