(Breitbart) The Democrats’ “blue wave” left them in the red financially, leaving them $18 million in debt after they won the House of Representatives.
The Democratic Congressional Campaign Committee (DCCC) paid a price despite helping the Democrats gain control of at least 39 House seats, getting itself into $18 million in debt, NBC News reported.
The Democrats’ congressional fundraising arm spent an unusually large amount of money on races in the 2018 elections, raising $272 million and spending $100,000 in more than 85 districts.
Heavy spending by political parties in the past election cycle was not unusual as Republicans also spent heavily on 2018 midterm races. The National Republican Congressional Committee (NRCC) confirmed it is $12 million in debt after the 2018 midterm elections.
But the Democrats’ say their financial losses are gains for the party.
DCCC officials touted their status as big spenders in a statement before Election Day, saying it was a “historically large investment” in building a Democratic majority.
The organization said it spent millions on more “diverse” candidates, bankrolling $63.2 million on “female candidates” and $39 million on “non-white candidates.”
Ending the end of each election cycle in debt is nothing new for the DCCC, which has reported being in at least $10 million debt after the end of each election season for an entire decade, Federal Election Commission (FEC) reports show.
The outgoing DCCC chairman, Rep. Ben Ray Lujan (D-NM), will become the Democrats’ Assistant Majority Leader— the fourth-in-command position in the House— and is vacating his seat in January.
His successor will likely be one of four House Democrats vying for the position— including Rep. Cheri Bustos (D-IL), Rep. Sean Patrick Maloney (D-NY), Rep. Suzan DelBene (D-WA), and Rep. Denny Heck (D-WA).