In the 2018 midterm elections, Democrats won 40 seats in the House of Representatives, taking control of the chamber.
This election cycle, the party is raking in even more cash than two years ago, with the Democratic Congressional Campaign Committee (DCCC) alone raising $39 million in the second quarter of 2020.
"It's a whole new world with that kind of money," fundraiser Michael Fraioli said.
The Democratic Senatorial Campaign Committee (DSCC) raised nearly $34 million in the second quarter of the year.
To win control of the upper chamber, Democrats would have to flip at least four seats. They seem to be on the right track. In the second quarter of 2020, Democratic candidates out-fundraised their Republican counterparts in 13 Senate races.
GOP candidates have fallen behind in South Carolina, North Carolina, Kansas, Kentucky, Maine, Iowa, Alaska, Georgia, Colorado, Montana, Arizona and Mississippi.
The DSCC reportedly plans on spending $30 million on advertisements in North Carolina, Iowa, Montana and Arizona. In all four states, GOP incumbents will have to fend off strong Democratic challengers.
According to Jessica Taylor of The Cook Political Report, this is "very reminiscent of this 'Green Wave' of cash that we saw in 2018 that proceeded Democrats taking back the House."
"These are all indicators that the national mood and the electorate are favoring Democrats just over 100 days out. That can tighten, but we are getting closer and closer to Election Day," she said.
In a statement, DSCC spokesperson Stewart Boss said that the Democratic Party is "on offense" this election cycle.
Boss said that record-breaking fundraising "speaks to the enthusiasm which we've seen all cycle for Democratic candidates and a real eagerness to hold Republicans accountable for their failures in Washington."
As The Inquisitr reported, some Republican are becoming increasingly concerned about their party's position.
Democrats' fundraising surge is reportedly being driven by grassroots donations, which seems to suggest that the party has successfully adapted to the coronavirus pandemic, which has made traditional campaigning impossible.
The GOP has improved its online outreach, but still remains "light-years away" from where it needs to be, according to National Republican Senatorial Committee executive director Kevin McLaughlin.
Michael Duncan, a digital strategist who is currently working on Senate Majority Leader Mitch McConnell's campaign, said that the financial disparity between Democrats and Republicans "jeopardizes our Senate majority."