By Alex Knott, CQ Staff

After years of being lapped by the Republicans, Democratic-affiliated political action committees have finally closed the gap in fundraising.

Although Democratic lawmakers have 40 percent fewer leadership PACs than Republicans, they collected nearly the same amount of money last year. Both sides raised about $31 million each, but the Democrats did it with 163 committees compared with 235 for Republicans. Still, the GOP-affiliated committees maintained an edge over the Democrats in cash on hand — $18.2 million to $13.3 million.

That is quite a change from the 2004 election cycle, when Republican PAC receipts, driven in large part by GOP control of Congress, were nearly double those of Democrats.

But now that the Democrats are in charge of both chambers, the tables have turned. Donors appear to favor them over Republicans in both individual and corporate PAC giving to lawmakers and to the party campaign committees in the House and Senate.

Among the most successful Democratic leadership PACs last year was the 21st Century Democrats, connected to Senate Agriculture Committee Chairman Tom Harkin , D-Iowa; AMERIPAC, a fundraising arm of House Majority Leader Steny H. Hoyer , D-Md.; and Democracy for America, which was once a fundraising arm of presidential candidate Howard Dean, who now chairs the Democratic National Committee. The three PACs raised approximately $1.7 million each.

Standing out among the Republicans was former Senate GOP Whip Trent Lott, R-Miss., ,whose New Republican Majority Fund raised $2.4 million in 2007, more than any other lawmaker-affiliated PAC. Lott resigned at the end of last year to launch a lobbying firm with former Sen. John B. Breaux, D-La.

Three other Republican PACs were standouts as well, raising about $1.2 million apiece. They were Freedom Project, an arm of House Minority Leader John A. Boehner of Ohio; the Bob Barr Leadership Fund, affiliated with the former congressman from Georgia (1995-2003); and the Every Republican is Crucial PAC, belong to House GOP Chief Deputy Whip Eric Cantor of Virginia.

The so-called leadership PACs — or “slush funds,” as campaign watchdog groups call them — used to be controlled by top party leaders. But in recent years, more and more rank-and-file and junior members have created PACs to help cover outside expenses and to make contributions to other candidates or causes.

For example, the Senate’s eight Democratic and three Republican freshmen have all established PACs, and in 2007 they collected $1.5 million. All but $200,000 of that money was raised by committees connected to Democrats Jim Webb of Virginia, Sherrod Brown of Ohio and Amy Klobuchar of Minnesota.

One of the chief functions of lawmaker PACs is to support the party’s candidates for federal, state and local elections. Last year, the Republican PACs still managed to edge out the Democrats in contributions to candidates, giving $10.4 million to the Democrats $8.5 million.