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Tags: Reince | Priebus | Republican | National | Committee | debt | reduction

In One Year, Priebus Turns Around RNC Finances

By    |   Thursday, 16 February 2012 12:33 PM EST

When Reince Priebus took over the chairmanship of the Republican National Committee (RNC) in January 2011 from Michael Steele, the group was in big financial trouble, with debt of $23 million.

But the former chairman of Wisconsin’s Republican Party fixed things up in a hurry, The Hill reports. Now the RNC has $20 million in cash on hand and $13 million in debt, while the Democratic National Committee has $12.5 million in cash and $6.5 million in debt.

“When we had the election for chairman, the question everyone had [was], ‘Who’s going to erase that debt?’ ” Mississippi RNC committeeman Henry Barbour told The Hill. “Most people thought it wasn’t practical to think they’d do it in two years, and he wiped it out in one.”

And what is Priebus’ take on the success? “We shot for a huge goal and we hit it. We shocked some people who didn’t think it could be done,” he told The Hill.

The accomplishment didn’t come in an easy environment. “I don’t particularly care for the campaign finance laws in this country and the overall structure of the campaign-finance laws, but in the end we had one of the biggest years in history at the RNC,” Priebus said.



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Thursday, 16 February 2012 12:33 PM
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