RNC’s Line of Credit to be ‘Collateralized’ With Donor List

A report from RedState’s Jennifer Van Laar details that the Republican National Committee (RNC) members were notified that the $10 million line of credit the executive committee is seeking will be “collateralized with the RNC donor list.”

$5 million is used in the proposed 2024 budget, Van Laar noted.

The reporter’s statement, in full, read, “Multiple sources tell me that the RNC Winter Meeting today committee members were told that the $10 million line of credit the RNC Executive Committee is seeking ($5 million of which is used in the proposed 2024 budget) will be collateralized with the RNC donor list.” She added, “(Don’t ask me how all of that works; I’m just reporting it.)”

Leading up to the RNC’s winter meeting, an RNC member shared with The Washington 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.”

Another official close to the matter claimed the credit line was not uncommon.

A report from RedState found that between October 20, 2022, and November 30, 2023, the RNC spent $127,735,489.96.

The Democratic National Committee (DNC) spent $156,900,372.28.

While the DNC spent more in total, the RNC spent a significant amount on floral arrangements.

In that category, the RNC spent $70,328.00, whereas the DNC spent a mere $795.

Within the “office supplies” category, the RNC spent $297,717.64, while the DNC spent $45,005.

In 2022, American Faith reported that the RNC spent $5,000 on Lululemon clothing, categorizing it as “office expenses.”

Other “office expenses” included coffee, cupcakes, candles, and goods from miscellaneous stores such as Pottery Barn, Crate and Barrel, West Elm, and more.