Politics
Dems have a big cash advantage in key Senate races
Democrats continue to rake in cash across some of the nation’s most pivotal Senate races, outpacing their Republican counterparts several times over.
In Georgia, Democratic Sen. Jon Ossoff has 20 times as much cash on hand as his Republican challenger, Rep. Mike Collins. In North Carolina, perhaps Democrats’ best pickup opportunity, former Gov. Roy Cooper outraised former RNC Chair Michael Whatley $8.2 million to $2.9 million. And in Texas, Democratic state Rep. James Talarico ended June with $21.5 million in the bank compared to $1.8 million for his GOP opponent, Texas Attorney General Ken Paxton.
But Republicans have a leg up in a handful of states that have gotten messy for Democrats, including Michigan and Maine, where the GOP has built up a cash advantage while primaries have prevented Democrats from sending their resources to a single candidate. That could challenge Democrats’ narrow path back to Senate control heading into the fall.
The Senate battle map is nearly solidified with a handful of critical states left on the primary calendar. Democrats face a steep climb against Republicans, who benefit from a more favorable map and campaign-arm cash advantage. But Democrats’ pipe dream to seize the upper chamber has become more realistic as the party fields a slate of star recruits with proven fundraising prowess — and as Republicans continue to grapple with high costs and an ongoing war in Iran.
Democrats’ hopes were further buoyed Wednesday by their candidates’ second-quarter campaign finance reports, filed with the Federal Election Commission.
“In key battleground races, Democrats are out-raising and out-polling many of their Republican counterparts,” said Adrienne Elrod, a national Democratic strategist who has advised numerous Senate and presidential campaigns. “All of this bodes well for a strong midterm for Democrats.”
Republicans shrugged off the disparities, pointing to the recent Supreme Court decision relaxing rules around coordination between candidates and party campaign arms that will allow the GOP to flex its committee-level cash advantage. The National Republican Senatorial Committee had just shy of $49 million in the bank at the end of May compared to just under $39 million for the Democratic Senatorial Campaign Committee.
“Republicans have a massive advantage on the party committee level and were ready to hit the ground running following the Supreme Court decision on Super PACs,” said GOP strategist Doug Heye. “As the fundraising ground has shifted over the past several years, all of this gives reason for Republicans to be hopeful about holding the Senate.”
Republicans are also building sizable cash advantages in some critical swing states where Democrats are slogging through contentious primaries. In Maine, Graham Platner’s exit — after POLITICO reported a woman accused him of sexually assaulting her years ago — has set off a scramble to succeed him on the ballot. Platner denied the allegations, but ended his bid after he hemorrhaged support.
Democrats now stand at a massive financial disadvantage against GOP Sen. Susan Collins, who ended the second quarter with $11 million in the bank.
Platner had raised a whopping $9 million in the second quarter, though his high burn rate meant he ended up with only $1.7 million cash on hand at the end of June.
Democrats are racing to bankroll their next standard-bearer. The DSCC launched a fund for the eventual new nominee as soon as Platner dropped out. Another Democratic group, the grassroots organization Swing Left, said it plans to raise roughly $500,000 for the eventual nominee.
Candidates running against Collins have generally been able to raise a lot of money in the past, but it’s not clear yet whether Platner’s successor will be able to recapture the small-dollar donor base that was electrified by his populist candidacy, especially with just a few months until Election Day.
And in Michigan, Democrats Abdul El-Sayed and Rep. Haley Stevens are burning through cash ahead of their Aug. 4 face-off — allowing the presumptive GOP nominee, former Rep. Mike Rogers, to build a sizable cash advantage heading into the general election.
Rogers had stockpiled nearly $5.7 million heading into July, compared to Stevens’ $3.4 million and El-Sayed’s $2.7 million.
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