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House Dems raise almost as much hard money as former soft money

The Hill reports House Dems unfazed by loss of soft money:

The Democratic Congressional Campaign Committee (DCCC), the fundraising arm for House Democrats, raised $28.5 million in 2003, close to the $31.7 million record it set two years ago, at the height of soft money’s heyday.

Last year’s sum is within a few million of the off-year record House Democrats set in 1999, prior to the last presidential election.

House Democrats finished the year in strong financial shape, raising $8 million in December and ending up with $8.5 million in cash and no bank debt. Of the money raised in December, typically a slow fundraising month, $1.5 million came through direct mail.

The fundraising sums defy predictions made at the beginning of the year that House Democrats would face major difficulties raising money under a new campaign finance law that bars the national parties from raising unlimited donations.