Giuliani aides have notified the National Republican Congressional Committee and congressional candidates of the offer, the newspaper said. But a leading Republican Party strategist noted the party is struggling to raise funds and said the Giuliani proposal is "just another burden."

"This is not about helping the party," the strategist said. "This is about helping Rudy Giuliani."

Giuliani, who ran unsuccessfully for the 2008 Republican presidential nomination, ended his campaign with an estimated $3.6 million in campaign debt -- including a $500,000 loan from his personal funds -- The Times said.

A Republican member of Congress said colleagues on Capitol Hill were surprised Giuliani was having trouble raising funds for his campaign debt.

Citing campaign finance reports, the newspaper said the National Republican Congressional Committee has raised $69.2 million and has a cash balance of $6.7 million, while the Democratic Congressional Campaign Committee has raised $92.9 million and has $45.2 million in hand.

Representatives for Giuliani and the NRCC declined to comment on the report.