DNC raises $9M in April as debt shrinks

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WASHINGTON (AP) — The Democratic National Committee says it raised $8.9 million last month and has cut its debt to a new low this election cycle.

The DNC on Tuesday released a summary of its financial reports and said it has reduced its debt to $8.7 million in April, down from a high of almost $23 million. The committee also says it has $7.9 million in the bank.

DNC officials say the full reports to the Federal Election Commission will show that most of the debt is owed to political vendors, such as advertisers, contractors and consultants.

The DNC says it is on track to be clear of debt to banks. The DNC paid off almost $4 million it owed to banks in April and has paid off another almost $2 million this month, which won't be reflected in the latest report.

The Republican National Committee has not yet released its April fundraising numbers and has until the end of the day Tuesday to do so. It raised $10.2 million in March and went into April with $12.3 million in the bank.

The RNC has been without debt since mid-2013.

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