Schumer Hoards Cash, Tops DSCC in Available Funds

Posted July 21, 2010 at 3:07pm

Sen. Charles Schumer is stockpiling money for a re-election race that hardly exists, and the New York Democrat ended June with more cash on hand than the Democratic Senatorial Campaign Committee.

Schumer, a former two-term DSCC chairman, showed $23.8 million on hand at the end of last month, and public polls have shown he is up by at least 20 points in a race that Republicans are not contesting. Meanwhile, the DSCC had $21 million in the bank June 30 and is trying to navigate how to hold a growing list of vulnerable seats.

The cash figures are notable considering Senate Majority Leader Harry Reid (D-Nev.) is in jeopardy of losing re-election this year and Schumer is jockeying with Sen. Dick Durbin (D-Ill.) to become his replacement.

But how much leverage can Schumer have in a potential leadership race if his party and some of his colleagues lose this fall while he sits on millions of dollars?

Unlike the House side, where the Democratic Congressional Campaign Committee holds a 2-to-1 cash advantage over its GOP counterpart, the DSCC has a narrow cash edge over the National Republican Senatorial Committee, and Democrats could use any help they can get.

DSCC Chairman Bob Menendez (N.J.) is probably among those at the top of the list waiting to see whether some help comes in the form of a campaign check from Schumer.