Cash-Strapped DNC Takes Out $10 Million Credit Line | NTK Network Cash-Strapped DNC Takes Out $10 Million Credit Line

Cash-Strapped DNC Takes Out $10 Million Credit Line

"The DNC said it had increased its existing line of credit in a hand-delivered filing two weeks ago with the Federal Election Commission..."

By NTK Staff | 06.12.2019 @12:30pm
Cash-Strapped DNC Takes Out $10 Million Credit Line

“The DNC said it had increased its existing line of credit in a hand-delivered filing two weeks ago with the Federal Election Commission…”

The Democratic National Committee (DNC), which has struggled to raise money under the leadership of Chair Tom Perez, took a $10 million line of credit “as it ramps up for the 2020 presidential election,” according to a story published by The Hill on Wednesday.

The Hill reported:

“The DNC said it had increased its existing line of credit in a hand-delivered filing two weeks ago with the Federal Election Commission. The initial line of credit, for $5 million, was taken out in early April.”

According to a source that spoke with The Hill, “the expanded line of credit is meant to allow the party to make early investments in infrastructure ahead of the 2020 elections.”

While the DNC has struggled to stay afloat, the Republican National Committee (RNC) under the leadership of Chair Ronna McDaniel has continued to set fundraising records.

Through the end of April, the RNC has raised $45.6 million in contributions, while the DNC has raised a little under $19 million.

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