Karl Evers-Hillstrom reported this development in the Center for Responsive Politics

The two largest political party committees are stockpiling record amounts of cash ahead of the 2022 midterms and laying the groundwork for an expensive 2024 clash. 

The Democratic National Committee raised $63.7 million through the first four months of 2021, more than twice as much as it raised over the same period after the 2016 election. The DNC had $56.3 million in the bank through April, six times its 2017 total. The Republican National Committee raised $57.6 million through April and ended the month with a whopping $90.5 million in the bank. The RNC reported having twice as much cash on hand as it did during the same point in Donald Trump’s first year in the White House. 

That’s according to Federal Election Filings released last week. The influx of donations to the top political parties is another data point indicating that the next two elections could be even more expensive than the last two record-breaking contests. Congressional candidates are also setting new fundraising benchmarks to start the 2022 cycle.

Read the full article here. Also, visit the main Democracy Chronicles section on American Democracy, our section on Money Politics, or our articles on Political Lobbying.