The RNC’s Fundraising Hole Is Even Deeper Than It Looks

It’s no secret that the Republican National Committee is in dire financial straits. But what’s less known is just how bad that situation really is.

On the surface, the RNC currently has more than $11 million on hand for this upcoming election cycle. While that’s less than half of what the Democratic National Committee has in the bank at the moment—and far less than the $77 million the RNC had on hand at this point in the 2020 cycle—the RNC has pointed to fundraising numbers in recent months to suggest the party has turned a corner after a historically bad stretch last year.

However, a close examination of the RNC’s recent financial statements reveals that those numbers are hiding some holes. A lot of the RNC’s recent fundraising—millions of dollars of it—is unusable for political spending. Instead, that money can only support a limited range of activities.

Read more at The Daily Beast.