(Bloomberg) -- Vice President Kamala Harris’ campaign and the Democratic National Committee spent close to $1.5 billion in their unsuccessful presidential bid, but they didn’t go into debt doing so, according to the campaign’s chief financial officer.
Conservative media outlets have reported that Harris’ unsuccessful campaign spent lavishly on events with celebrities including Lady Gaga and Oprah Winfrey, donations to activist groups, private jets and consultants. But neither those expenditures, nor its massive outlays for advertising and get-out-the-vote efforts, led to a budget shortfall.
“As of Election Day, there were no outstanding debts or bills overdue,” said Patrick Stauffer, chief financial officer of Harris for President. He added that “there will be no debt” when the campaign and the DNC file their next disclosures with the Federal Election Commission on Dec. 5, which cover spending from Oct. 17 through Nov. 25.
Harris’ campaign aimed to spend every dollar available to win the election, according to a person familiar with its operations. There’s no benefit to having leftover money that could be used to reach voters, said the person, who asked for anonymity to discuss sensitive matters.
Criticisms of some payments, like $1 million paid to Winfrey’s production company for event staging, doesn’t take into account campaign finance laws, which bar businesses from contributing to campaigns or providing services at below-market rates, the person said. While celebrities like Winfrey could appear at events for free, the campaign had to pay for the costs of putting them on.
Since losing the race last week to President-elect Donald Trump, Harris’ campaign is no longer raising money and is winding down, the person said. That process can take months or years as it receives and pays invoices. It was preparing to raise additional funds after Election Day if the outcome wasn’t immediately clear and legal battles ensued. Those funds weren’t needed after Trump won every swing state by comfortable margins.
Only active candidates or those who ended with debt can raise money under federal election law. Trump, who can’t run for re-election, converted his 2024 campaign committee to a leadership political action committee on Tuesday so he can continue to tap his donors.
The DNC is still actively fundraising, including from Harris’ donor lists. In the short term, it’s preparing for special congressional elections to fill seats left vacant after Trump named to his cabinet sitting House members, including Representatives Elise Stefanik of New York and Michael Waltz of Florida. It also supports data and technical infrastructure that benefits Democrats up and down the ballot.
“The DNC’s work continues in earnest past Election Day, and so our fundraising is continuing as well,” said party spokesperson Rosemary Boeglin. She said the party is not in debt and ready to lead the fight against Trump.
The party is also raising money for the midterm elections in 2026, less than two years from now.
©2024 Bloomberg L.P.