WASHINGTON - The Republican National Committee (RNC) has fully funded its 2012 Presidential Trust. Under federal campaign finance law, the Presidential Trust is $21 million that the RNC can spend in direct coordination with our nominee's campaign. While the Presidential Trust is limited to $21 million, the RNC can spend unlimited amounts in support of the Republican nominee, above and beyond those coordinated with the campaign.
This year, the RNC has launched its Victory Program earlier than ever, with staff and offices open in Florida, North Carolina, Virginia and Wisconsin. In the coming weeks, Colorado, Indiana, Iowa, Michigan, Nevada, New Hampshire, New Mexico, Ohio, Pennsylvania, and Washington will be added to that list.
The RNC heads toward November in excellent financial shape, with over $30 million cash on hand--more than the record $25 million the RNC had in 2008 when Senator McCain became the presumptive nominee. The RNC raised $11.3 million in February and outraised the DNC four out of the last six months. Were it not for the Obama campaign's transfers to the DNC, the RNC would have outraised them in all six.
RNC Chairman Reince Priebus released the following statement on the Presidential Trust:
"The RNC's Presidential Trust, chaired by Congressman Paul Ryan, is now fully funded, putting Republicans one step closer to winning the White House in November. I want to thank Congressman Ryan, who has been instrumental in this effort, for his outstanding work.
"With a fully-funded trust, we stand ready on day one once we have a presumptive nominee. We will continue to build our battleground state Victory Programs and our voter identification and turnout operations to ensure we are victorious on Election Day.
"Our fundraising success has been fueled by both our grassroots supporters and major donors. Ninety-seven percent of our donors gave less than $200 in 2012. Meanwhile, we have raised a record $9.2 million in major donor money January 2012 to now. Clearly, the electoral momentum is on our side."
Congressman Paul Ryan released the following statement on the Presidential Trust:
"It was a privilege to work with my fellow Wisconsinite Reince Priebus and the entire RNC team. We achieved our goal thanks to the generosity of our supporters from across the country.
"With each passing day, it becomes clearer that we need to take our country in a different direction. Americans cannot afford four more years of failed policies, record deficits and broken promises. The course we are on is unsustainable and will cause us to sever the great legacy of leaving the next generation better off.
"I applaud the RNC for their work, Chairman Priebus for his dedication and our supporters for helping us lead the way to victory in November."
GOP Chairman Reince Priebus