GOP Fundraising Lead Over Dems Widens Ahead of Midterms

Democrats are warning that a financial advantage they enjoyed for much of the Trump era is fading, with Federal Election Commission filings showing Republicans and allied outside groups beginning 2026 with a large cash edge and new potential help on the way from the Supreme Court.

The Republican National Committee started the year with nearly $100 million more cash on hand than the Democratic National Committee, according to the filings.

Meanwhile, the Republican Party's three leading arms and two super PACs aligned with congressional Republicans started the year with a combined $320 million, compared to the roughly $137.2 million for comparable Democrat groups, The New York Times reported.

The gap is growing partly because President Donald Trump is sitting atop a super PAC with more than $304 million, a level of money with no equivalent on the Democratic side.

Trump has also moved roughly $70 million into other federal accounts, pushing Republicans' starting advantage to more than $550 million by some tallies that include his outside money.

Just two years ago, Democrats outraised Republicans at the top of the ticket, with former Vice President Kamala Harris' campaign and the DNC raising $2 billion and Trump and the RNC bringing in $1.2 billion.

It remains to be seen how aggressively Trump plans to deploy his super PAC funds for the midterms.

Last week, about 10 of the president's top White House aides and political advisers met in Palm Beach, Florida, to discuss spending plans and mobilizing less engaged voters, people familiar with the meeting said.

Advisers have also discussed whether to begin spending as early as spring or summer, and those briefed on the super PAC's thinking said Trump had not settled on a specific amount.

Meanwhile, Future Forward, the Democrats' major outside operation from 2024, went largely dormant in 2025, entering this year with $2.3 million.

A pending Supreme Court decision is widely expected to loosen restrictions on how parties can use certain funds.

Operatives in both parties said the change could allow party committees to make greater use of large donations to purchase television advertising at the lowest rates available to candidates.

Under current federal law, candidates can buy ads at the cheapest rates, while super PACs often pay significantly more.

If parties are able to channel more money into purchases that qualify for lower rates, Republicans could get more impact from their cash advantage.

The DNC borrowed $15 million last year, meaning it holds more debts than cash on hand, the FEC filings show.

Strategists said some Democrat donors are wary of making public political contributions because of fear of retaliation by Trump, while corporate donors have seen an advantage in publicly supporting the party in power.

Republicans have also posted improvements in House and Senate campaign accounts.

The campaign arm for House Republicans narrowly outraised its Democrat counterpart last year for the first time in a decade.

Speaker Mike Johnson said House Republicans entered 2026 with "unprecedented resources," and Trump plans to headline a fundraising dinner next month after a 2025 event that raised $35.2 million.

Tech billionaire Elon Musk's renewed involvement in GOP fundraising is also worrying Democrats.

The world's richest man has reengaged with Republicans after a public split with Trump last year, donating $20 million in December and January, and recently attended the Mar-a-Lago wedding of Dan Scavino, a longtime Trump aide.

Musk has also been lobbying Republicans to pass the Safeguard American Voter Eligibility Act, which would require proof of citizenship to register to vote.

A person close to Musk's group said his spending decisions could hinge in part on how lawmakers vote on the measure.