Democrats faced a mixed financial landscape following their significant election losses in November, according to new federal filings. The Democratic National Committee (DNC) reported a healthy cash reserve, despite cutting staff after the election, while a prominent liberal super PAC, Future Forward, was burdened with nearly $50 million in unpaid advertising bills. Vice President Kamala Harris’ now-closed presidential campaign had $1.8 million left in its accounts after spending over $1 billion in her unsuccessful bid to unseat Republican Donald Trump. Notably, the Harris campaign reported no outstanding debts.
The filings with the Federal Election Commission (FEC), covering activity from October 17 to November 25, provide a snapshot of the party’s finances as it recovers from losing the White House and Senate while failing to flip the House. Party officials indicate they are still reconciling invoices and addressing accounting matters tied to the costly presidential race. A comprehensive view of Democratic finances will emerge in January when year-end reports are filed with the FEC.
During the final campaign stretch, Harris’ team spent heavily, pouring over $270 million into efforts between October 17 and the post-election period. This rapid spending, coupled with intense post-election fundraising appeals, raised concerns about potential unpaid bills. However, the campaign ended with $1.82 million in cash as of November 25, thanks to record-breaking donations.
Democrats have continued soliciting contributions since the election. A recent email from Harris’ joint fundraising committee, promoting a “Harris Fight Fund,” emphasized support for electing down-ballot Democrats committed to holding Trump accountable. The fine print revealed that initial proceeds would bolster the DNC’s finances.
The DNC’s FEC filing reported $47 million in cash and no debt, contrasting sharply with Future Forward’s precarious financial position. The super PAC, which had played a significant role in supporting Harris’ candidacy, carried $47.3 million in debts primarily linked to advertising costs.
Chauncey McLean, who oversees Future Forward, told CNN that those bills do not amount to “real debt,” but echo an obligation by the FEC that the group report an estimate of spending on advertising on a rolling basis. “The invoices are already paid,” and the next report the group files will reflect those payments, he said.
