RNC’s Cash Reserves Surge as Midterm Campaign Funding Accelerates

The Republican National Committee raised $16.4 million in January, reporting $101.9 million in cash on hand as of January 31.

This early financial boost provides Republicans with a significant advantage heading into this year’s midterm elections, according to the committee’s chair.

RNC Chair Joe Gruters described the party’s fundraising efforts as “building the war chest” necessary to maintain majorities in both the House and Senate.

“This is just the start,” Gruters stated.

The committee reported spending $9.6 million in January, a slower pace compared to similar periods in recent midterm cycles. The RNC spent $17.6 million by this time in 2022, $10.4 million in 2018, and $7.1 million in 2014.

If the reported $101.9 million in cash on hand holds, it would represent a new high for the committee at the start of a midterm election year—nearly double the $51.7 million recorded at the same point in 2022 and substantially above the $40.7 million held as of January 31, 2018, and the $9.8 million reported in January 2014.

The RNC ended 2025 with cash on hand just over $95 million and reported no debt on its year-end filing. FEC data also shows total receipts for the RNC amounted to $172,282,201.36 from January 1 through December 31, 2025.

Gruters credited President Donald Trump and Vice President JD Vance, the RNC’s finance chair, as key drivers of the party’s fundraising push ahead of November. He also noted that Democrats would likely close the gap later in the year as the election approaches, while emphasizing Republicans intended to continue raising funds for targeted investments.

Outside national committees, pro-Trump super PAC MAGA Inc. reported over $304 million in cash on hand as of December 31, 2025, according to FEC summary data.

Democrats have described their own financial strains as they attempt to rebuild for the 2026 election cycle. The Democratic National Committee reported a little over $14 million in cash on hand as of December 31, 2025, and $17.5 million in debt or loans owed by the committee, per FEC data.