Despite recent big wins for Republicans, they are dependent on mega donors as small-dollar donations dwindle
With gun rights expanded and the end of federal abortion rights, Republicans believe themselves to be frontrunners.
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Republicans are rushing to find the reasoning for a decline in small-dollar donations in recent times despite them being a norm as election time nears.
With the Fall elections looming, the Republican Party will look to fix this problem, as they fear it could harm their chances of success despite recent big wins in the Supreme Court.
Along with small-dollar donations declining, so has online fundraising across much of the party platform in the last year. The lack of funds being raised has increasingly slowed across many campaigns, including for former President Donald Trump, who is increasing his presence as he prepares for the 2024 presidential bid — one that many fear could fall in favor of Trump with the lack of firepower Democratic candidates currently hold.
According to the main Republican donation-processing portal, WinRed, federal records show that the overall decline of donations online specifically fell as much as 12% in this second quarter compared to their first.
Additional findings show that since the last quarter of 2021 until the last three months, the gap in donations between both parties was more than $100 million in favor of the Democrats. According to ActBlue, the online donation portal for Democrats, while Republicans fell 12%, Democrat donations surged by over 21%.
Even while small-dollar donations for Republicans have declined, they have been offset by the major tens of millions of dollar checks cut by industry titans and billionaires.
While the current climate of the country falls in the Republican Party’s favor in conjunction with Biden’s plummeting approval rating, the dwindling influx of donations could be a major fault in their plan for supremacy. Trump is currently the right’s dominant fundraiser.
In regards to the Senate Republican Committee, they are being outperformed by one person, as Democrat and Georgia Senator Raphael Warnock raised over $12.3 million online last quarter in comparison to $6.7 million in the recent quarter for the former. Total numbers also declined from $17.7 million to $11 million.
However, the decline in money from Republicans does not mean doom for the right, as Democrats have poured hundreds of millions into losing campaigns in previous years.
One of the bright spots, however, has been fundraising within Republican candidates in the House. According to data from the National Republican Congressional Committee, only 28 House Republican candidates had raised over $500,000 at this time in 2020. As it stands now, that number is at 94 candidates.
Two of the prominent House Republicans, Louisiana Representative Steve Scalise and R. Kevin McCarthy of California, have seen their small-dollar donations drop by more than $2 million between them both, according to their main WinRed accounts.
Blame has been aimed towards many, including the state of inflation at the moment, Google, with much emphasis towards the Trump campaign as the former president continues on his quest to revenge against fellow Republicans who he thinks wronged him. Trump has been accused of receiving an abundance of funds, but not sharing it with his own party, rather funding his own staff and going towards anything but the larger pool.
“We’ve got to raise the money…We get the money, we win,” Chairman of the National Republican Senatorial Committee, and Florida Senator Rick Scott said on Fox News on Friday, July 22.