The Republican National Committee (RNC) is exploring the possibility of establishing a credit line to address financial challenges resulting from recent lackluster fundraising efforts.
Ronna McDaniel, Chairwoman of the RNC, will be discussing this unconventional option during the Winter Meetings in Las Vegas next week.
According to Just The News, the RNC is contemplating the implementation of a credit line as a means to offset the shortfall in their anticipated fundraising levels. The Washington Times reported that this matter will be deliberated upon during the RNC's winter meeting, commencing on Tuesday in Las Vegas. The RNC has been grappling with financial concerns, both in terms of major and minor contributions, ever since a $15 million deficit was announced last summer.
A concerned RNC member disclosed to The Times, "They're going to ask the members to take a vote on opening up a line of credit for the RNC, which would allow the RNC to borrow money." The member further emphasized the urgency of the situation, highlighting the need for immediate action.
A party official, who is closely associated with RNC Chairwoman Ronna McDaniel, stated that the proposed credit line is not an unprecedented move. The official clarified that authorizations for additional credit are sought on an annual basis, regardless of whether the funds are ultimately utilized. This precautionary measure ensures that the RNC has access to financial resources if the need arises.
The RNC's consideration of establishing a credit line underscores the gravity of their financial predicament. With donations reaching an eight-year low in November, the RNC is actively exploring all available options to address their financial challenges and ensure the smooth functioning of their operations.
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