REPORT: The DNC Is in Very Serious Financial Trouble | NTK Network REPORT: The DNC Is in Very Serious Financial Trouble

REPORT: The DNC Is in Very Serious Financial Trouble

The Democrats’ recovery from 2016 is taking longer than anticipated, and a newly approved rule just made raising money that much harder.

By NTK Staff | 10.23.2017 @11:00am
REPORT: The DNC Is in Very Serious Financial Trouble

Democrats are in trouble. Many thought the presidency of Donald Trump would be a boon to the Democratic National Committee (DNC), but the cash-strapped organization is taking longer to recover from a brutal 2016 primary than most had anticipated.

Tom Perez, elected DNC chair in February, is quickly losing the confidence of the men and women who elected him, according to a report from Politico.

The financial challenges reflect a broader struggle at a committee led by a chairman who is new to party politics — and on a steep learning curve at a time national Democrats are still searching for an identity after a historic loss. And it’s not just donors who are staying away as the Perez-led group promises an expansive set of new investments and innovations. The party’s old leaders, led by former president Barack Obama, have kept their involvement to a minimum, as well.

So with 2018’s midterms presenting a clear opportunity for Democrats to leap forward, the worry is that they simply may not be prepared in time.

Making matters worse is a new rule just adopted by the DNC at its annual fall meeting, which “officially banned donations from some corporate sources.”

The passage of California DNC member Christine Pelosi’s anti-corporate money language was a major victory for the party’s left wing, which had been stymied under previous leaders. Pelosi’s amendment required the party to reject “corporate donors that conflict with our DNC platform” — donors, she said, such as payday lenders, who have spread money around to win allies in both parties. (Political parties are already prohibited from taking money directly from corporations.)

Pelosi’s resolution had been introduced before, and failed under the pressure of party activists who argued that the language was too loose. It was adopted at Friday’s meeting of the party’s resolutions committee — Pelosi is a member — but activists worried that the full DNC could strip it out. On Saturday, to their happy surprise, the full DNC membership approved the resolutions panel’s package with a voice vote.

As the Bernie Sanders wing continues its takeover of the Democratic Party, real questions are emerging about the political organization’s ability to compete with its counterpart, the Republican National Committee (RNC), which is far outpacing the DNC in the 2017 money race.

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