Democratic Congressional Campaign Committee Pays Off 2012 Loans

The congressional campaign committees of the Democrats and Republicans each raised about $7 million during June, but the Democrats paid off their loans and the Republicans still owe $2,250,000 on loans from the 2012 elections. 

The Democratic Congressional Campaign Committee reported it raised $6,719,033 in June. The committee received $4,557,276 from individuals, including $2.3 million from contributors giving $200 or less. The committee received $468,870 from PACs and other committees. The committee received $1.5 million other candidate committees, such as $150,000 from Nancy Pelosi for Congress, $115,000 from Joe Kennedy for Congress and $100,000 from Crowley for Congress, among others.

The DCCC spent $4,510,781, including $2,125,000 on June 28 to pay off the outstanding loan from Bank of America. The committee spent $476,570 on telemarketing, $342,554 on payroll, $287,626 on postage and $80,923 on legal services.

The National Republican Congressional Committee reported it raised $7,073,744 in June. It received more than $2 million from individuals, with $944,556 coming from contributors giving $200 or less. PACs and other committees (such as campaign committees of members of Congress) provided $3.4 million. Joint fundraising committee contributed $1.5 million, including $629,897 from Boehner for Speaker Committee, $402,020 from Cantor Victory Committee and $152,962 from McCarthy Victory Fund 2014, among others.

Selected individual donors included Joseph Luter (chairman, Smithfield Foods) $29,800; Karin Luter (homemaker) $29,800; Julia Koch (homemaker, Kan.) $14,800; Charles Munger (retired, Calif.) $13,600; and Nate Redleaf (hedge fund analyst, Luxor Capital, N.Y.) $32,400; among others.

The NRCC spent $2.5 million on June 30 to pay down the outstanding loan due to Wells Fargo Bank. The committee spent $383,474 on postage, $362,732 on payroll, $342,1139 on fundraising phone calls and $270,736 on list rental, among other costs. The committee contributed $5,000 to Sanford for Congress. The committee still owes Wells Fargo $2,250,000.