Washington (CNN) - The fundraising outlook is better for Republicans than Democrats this month, since the GOP outraised the current Senate majority party by roughly $200,000.
Though the Democratic Senatorial Campaign Committee broke its own fundraising record for the first month of an election cycle by bringing in $2.63 million, the National Republican Senatorial Committee edged out Dem fundraising numbers by taking in $2.86 million in the month of January.
When it comes to cash on hand, however, the numbers tell a different story. The Senate majority party will report $2.65 million in cash on hand and Republicans, who hope to take over the both houses in 2012, will report $483,000.
But Dems are more in debt than the GOP, with $8.78 million owed by the DSCC and $6.5 million owed by the NRSC. With the recent announcement of retirement from New Mexico Senator Jeff Bingaman, the DSCC has its work cut out for the 2012 election cycle as it defends 23 seats and 4 left open by retiring Democratic Senators. Republicans will defend 10 seats and have two open races to contend with, as Senators Kay Bailey Hutchinson and Jon Kyl retire.
"On both the candidate and fundraising front, Senate Republicans are off to a very strong start to the 2012 cycle as we work to win back a Republican majority," said Brian Walsh, the communications director for the NRSC.
President Obama will travel to Florida next month to headline a fundraiser in the Democratic push to keep control of the Senate. According to DSCC executive director Guy Cecil, "Senate Democrats will prevail this cycle by raising the resources needed to wage aggressive campaigns in each of our targeted states. Our supporters are energized when they see Democrats focused on growing jobs and Republicans on everything but. Democrats know what is at stake in 2012 and stand ready to fight."