Three Takeaways on the Fundraising Landscape in 2025
Democrats are hoping that voter fatigue with the Trump administration will help them claw their way back to power in the 2026 midterms, but Republicans are taking advantage of their political clout in Washington to bring in loads of campaign cash.
Here’s a quick look at where the fundraising landscape stands right now:
The NRCC’s Fundraising is Strong
The GOP’s House campaign arm is giving its Democratic counterpart a run for its money in the fundraising game.
The National Republican Congressional Committee raised $21.5 million last month, according to its latest Federal Election Commission filings. By comparison, the Democratic National Committee pulled in just shy of $16.6 million in March. The DCCC still came out with the larger first-quarter total, but just barely; the group raised $36.9 million between the start of January and the end of March, while the NRCC raised $36.7 million.
Of course, there are other factors to consider. The DCCC still has a significant cash-on-hand advantage, carrying $33.8 million in its bank account compared to the NRCC’s $23.8 million. And both committees still have some debt to account for. The NRCC is $4.5 million in the hole, while the DCCC is carrying $8 million in debt.
It goes without saying that it’s still early. The NRCC also outraised the DCCC in March 2017, yet Democrats still went on to flip the House in the 2018 elections – the first midterm cycle with Trump in the White House. Still, the NRCC’s latest FEC filing is a reminder that the group’s fundraising machine is purring along.
The Democratic and GOP Senate Fundraising Arms are Neck-and-Neck
The Democratic Senatorial Campaign Committee narrowly beat out the National Republican Senatorial Committee in fundraising last month, raking in $8.7 million to the GOP group’s $8.4 million, the latest FEC filings show.
That leaves the DSCC with about $14 million in cash on hand as of the end of March. The NRSC, on the other hand, has just $3.6 million in the bank. And both committees have millions of dollars in debt; the Democratic Senate campaign arm still owes $12.5 million, while the NRSC is carrying $10 million in debt.
Yet the NRSC is still outpacing the DSCC in total fundraising this year. The Republican committee has so far pulled in about $24.8 million since January – a few million dollars more than the $21.3 million raised by the DSCC in 2025.
Vulnerable House Republicans Are Raking in Big Bucks
It’s still early in the game, but vulnerable House Republicans are coming out on top in the money race.
According to first-quarter FEC reports, nine House Republicans in battleground districts raised more than $1 million each for their reelection campaigns: Reps. Ken Calvert, CA; Young Kim, CA; Juan Ciscomani, AZ; Eli Crane, AZ; Brian Fitzpatrick, PA; Jen Kiggans, VA; Mike Lawler, NY; Mariannette Miller-Meeks, IA; and Derrick Van Orden, WI.
By comparison, only three Democrats in battleground districts – Reps. Eugene Vindman, VA; Pat Ryan, NY; and Angie Craig, MN – passed the million-dollar mark in the first quarter of the year, the FEC filings show.
Across the board, House Republicans in competitive districts outpaced Democratic incumbents in tough races. An analysis of FEC filings by The Cook Political Report found that GOP incumbents in competitive races raised an average of $990,000 a piece. House Democrats in similar contests pulled in about $520,000 on average.