Senate GOP takes money lead

The campaign committee raised $1.5 million between Nov. 25 and Dec. 31, to bring the total raised for the two-year 2014 election cycle to $118.3 million.

A majority, $81.6 million, was raised in 2014. Republicans enter the 2016 cycle holding the Senate majority for the first time since 2006. This puts the committee in a good position to pay off it’s debt and compete for campaign cash with the Democratic Senatorial Campaign Committee.

The DSCC raised $1.6 million between Nov. 25 and Dec. 31, ending the year with roughly $1 million in cash and $16.3 million in operational debt. It closed 2014 with $21.3 million in debt on the books but $5 million of that was the mortgage on its Washington headquarters. The operational debt dropped to $15 million in January after the DSCC paid off $1.3 million in outstanding bills. That will be reported in the January report, a DSCC official said.

The DSCC raised $168.3 million over the course of the 2014 cycle.

Republicans are confident they can compete with Democrats for money in 2016. One GOP source said that the DSCC will have difficulty paying off its debt and raising enough money to challenge the party’s majority next year after losing nine seats and being knocked from a 55-seat majority to a 46-seat minority. Republicans say the Senate Democrats’ campaign arm faces a particular difficulty because the party’s big donors are focused on Hillary Clinton’s expected presidential bid.

Senate Republicans will, of course, also be competing for cash with the many GOP contenders for the presidency. Both parties Senate efforts are expected to receive financial support from super PACs, which can accept donations in unlimited amounts.

The Democratic have Senate Majority PAC, often referred to as Senate Minority Leader Harry Reid’s super PAC. On the Republican side, the Senate Leadership Fund launched in January. Senate Majority Leader Mitch McConnell encouraged its creation and it is run by one of his former aides.