For Immediate Release:                                                                                             Contact:  Ian Stirton
January 12, 2001                                                                                                                          Ron Harris
                                                                                                                                                        Sharon Snyder
                                                                                                                                                        Kelly Huff

PARTY FUNDRAISING ESCALATES

WASHINGTON - The Republican and Democratic parties raised a total of $1.2 billion in hard and soft dollars for the election cycle beginning January 1, 1999, through November 27, 2000. This was almost double their efforts for the same period in the ’98 election and 37% more than 1996, the last presidential cycle. The following table provides a summary:

In terms of federal, or hard money, Republicans raised $447.4 million and spent $406.6 million. By late November, their cash reserves were $36.3 million, with $4.5 million in debts. Democrats raised $269.9 million and spent $253.4 million. They had cash-on-hand of $37.8 million, with $17.7 million in debts.

These "hard dollar" receipts are 10% higher for Republicans than in the previous presidential election cycle (1995-96), and 29% higher for Democratic committees. The Democrats reported a 28% increase in disbursements over 1996, while the Republicans reported only a slight increase of under 2%.

Republicans spent a total of $33.7 million specifically directed toward their candidates, including $2.7 million in contributions, nearly $29 million in coordinated expenditures*, and almost $2 million in independent expenditures. Democrats spent $26.3 million directly to promote their candidates, with $3.8 million in contributions, $20.2 million in coordinated expenditures, and $2.2 million in independent expenditures.

The largest percentage increases for both parties continue to be in nonfederal, or "soft money" (funds raised outside the limitations and prohibitions of the Federal Election Campaign Act). Republicans raised $244.4 million, an increase of 73% over the same period in 1995-96, the last presidential cycle, while Democrats raised $243 million, a 99% increase. Soft money represented 35% of Republican Party financial activity reported to the FEC and 47% of Democratic Party fundraising.

Much of the activity of national party committees in recent election cycles has shifted toward transfers of funds from the national committees to various states. In total, the national committees of the Democratic Party transferred $226.9 million to various states. The national committees of the Republican Party transferred $184.9 million. Hard dollar transfers by the Democrats totalled $81.7 million; Republicans transferred $55.5 million. Soft money transfers totalled $145.2 million for the Democrats and $129.4 million for the Republicans. These transfers to the states are listed on the last two pages of this release.

Charts attached to this release provide comparable data for four previous election cycles. The next report for this election cycle is the year-end report, due

January 31, covering financial activity from November 28 through December 31, 2000.