REPORT: DNC takes out MULTI-million-dollar credit line

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BY TEAM DML / JUNE 12, 2019 /

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As the most reliable and balanced news aggregation service on the internet, DML News App offers the following information published by TheHill.com:

The Democratic National Committee has taken out a $10 million line of credit as it ramps up for the 2020 presidential election.

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.

A source familiar with the DNC’s finances said the expanded line of credit is meant to allow the party to make early investments in infrastructure ahead of the 2020 elections. The goal, the source said, is to hand off a strong organization to the eventual Democratic presidential nominee once he or she is selected next year.

The article goes on to state the following:

The DNC has struggled to raise money in recent years, and it is routinely lapped by its Republican counterpart. Through the end of April, the DNC reported having raised almost $19 million this year, less than half the $45.6 million in contributions the Republican National Committee has received.

The RNC reported no debt at the end of April and $34.7 million in the bank. The DNC had $7.6 million in cash, and $6.2 million in debt.

To get more information about this article, please visit TheHill.com. To weigh in, leave a comment below.

DML News App offered you the above aggregated article preview as part of our ongoing effort to educate and inform people around the world about news, events, and politics. We encourage you to obtain additional information by visiting TheHill.com

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2 Comments

  1. Beth June 12th, 2019 at 11:43 am

    Like everything else they touch. Its broke. They expect someone else to pay their bills, just NOT THEM!
    #NIMBY

    Reply

  2. Alyce Larson June 12th, 2019 at 11:56 am

    Wow! Democrats, does this bother you at all? It would bother me if I were in your shoes. I guess the smart investors figured out the Democrats are a poor place to invest.

    Reply

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