DCCC borrows $17M to boost House prospects in final election stretch

The Democratic Congressional Campaign Committee has taken out a $17 million line of credit to help boost their candidates going into the final stretch of the campaign.

Though it's looking increasingly unlikely that Democrats will be able to net the 25 seats they'll need to regain a majority in the House, the DCCC is preparing to spend big over the next week and a half to boost their chances.

A Democratic source familiar with the loan said that it's unlikely the committee will use the full amount. But the DCCC has come out of previous cycles deeper in debt — the committee ended the 2010 cycle $19.5 million in debt and came out of 2008 with $20 million in debt.

For those years, the committee had to spend the months following the election paying down its debt, and whatever it incurs this year will put the same pressure on the committee — and its main fundraiser, Minority Leader Nancy Pelosi (D-Calif.).

The DCCC outraised its Republican counterpart by over $4 million in the third quarter and $14 million for the cycle, but the National Republican Congressional Committee entered the final stretch of the campaign with about $3 million more cash on hand.

The DCCC has already reserved or spent $54 million on races this cycle in 46 different districts.

--This article was updated at 2:37 p.m. to reflect committee fundraising numbers.

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