GOP senatorial committee zeroes out 2008 debt

The National Republican Senatorial Committee is debt-free after just four months of the 2010 cycle, according to reports that will be filed with the Federal Election Commission.

The committee pulled in $2.9 million in April, about 50 percent more than it raised in the same month in 2007. Through the end of the month, the NRSC had $2.65 million in the bank. The committee also paid off the last of its $4 million in debt incurred during last year’s election cycle.

{mosads}Meanwhile, the Democratic Senatorial Campaign Committee put a massive hole in their own debt numbers, paying off more than $6 million of the $10.8 million the committee owed.

The DSCC raised $3.13 million in April and kept $2.6 million in the bank. The committee’s debt is down to just under $4.6 million, lower than the same point in April 2007.

“Every time Republicans stand in the way of President Obama’s agenda to get this economy back on track, it energizes our supporters because they know we need at least 60 Democratic senators to end Republican obstructionism,” said DSCC Communications Director Eric Schultz.

While party committee fundraising has taken a hit amid the bad economy, NRSC chairman John Cornyn (Texas) has managed to raise as much or more than his committee pulled in during similar periods in the 2004, 2006 and 2008 cycles. The Senate GOP’s campaign arm is the only campaign committee not to experience a drop-off of some form.

“The Democrats’ agenda of higher taxes and out-of-control Washington spending has been our strongest fundraising tool to date, and particularly with the Democrats on the brink of 60 votes in the Senate,” said Brian Walsh, the NRSC’s communications director. “The NRSC is fully committed to recruiting strong candidates and ensuring that they have the financial resources to win next year.”

Meanwhile, the Republican National Committee, flush with cash, has helped both the NRSC and the National Republican Congressional Committee pay off debt they incurred in 2008. Having already given $1 million to each committee in March, the RNC cut new checks for $1 million to both in May.

Sen. John Ensign (Nev.), who ran the NRSC during the last cycle, intentionally kept debt as low as possible in order to hand over a financially viable committee to his successor. It’s the second cycle in a row the NRSC has paid off debt during April of the off-year.

Party committees have until Wednesday to file their monthly reports with the FEC.