Category Archives: Financials

Surprising Q3 Financial Disclosures

By Jim Ellis

Oct. 19, 2018 — The third quarter financial disclosure reports are now public, and more details are readily available. Thus, we are able to learn about various record-setting fundraising efforts.

FEC-moneyIn addition to Texas US Senate candidate Beto O’Rourke (D) attracting $38 million in the third quarter, an all-time record for any such campaign, several House candidates also reported financial numbers that have never been seen for district-level politics.

In the third quarter of 2018, nine House contenders exceeded raising $3 million, eight Democrats and one Republican.

In California’s 22nd District, incumbent Rep. Devin Nunes (R-Tulare), the chairman of the House Intelligence Committee, was the top Republican fundraiser and appears to have accumulated more financial resources for the entire campaign than any other congressional candidate of either party. In the quarter, Rep. Nunes raised $3.14 million. For the campaign, he has exceeded the $10.5 million mark.

But his Democratic opponent, attorney Andrew Janz, brought in over $4 million for the quarter, the only congressional candidate in the US to do so, and an all-time record for a quarter. He still trails Rep. Nunes in overall receipts (Janz posted $7.13 million for the campaign), however. Together, this campaign leads the nation in combined fundraising with over $17 million. For a regular cycle congressional campaign – not including the special elections we saw earlier that became national contests – this, too, is likely an all-time record for a House contest.

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VA-10: Momentum Change;
Dems: Eye-Popping Dollars

By Jim Ellis

Virginia state Sen. Jennifer Wexton, D-Loudoun County (left) | Rep. Barbara Comstock, R-McLean (right)

Virginia state Sen. Jennifer Wexton, D-Loudoun County (left) | Rep. Barbara Comstock, R-McLean (right)

Oct. 4, 2018 — Recently, signals were developing that Virginia Rep. Barbara Comstock’s (R-McLean) campaign status against state Sen. Jennifer Wexton (D-Loudoun County) was trending poorly to the point that she was becoming one of the most endangered incumbents in the nation. Now, the political winds appear to be changing.

In June, Monmouth University released a survey that found the congresswoman dropping behind her Democratic opponent by a substantial margin, 50-41 percent, under a standard midterm turnout model; President Trump’s approval rating was severely upside down; and rumors were circulating that the National Republican Congressional Committee (NRCC) was looking to cancel its multi-million dollar media air time reservation.

Now, things have picked up for Comstock. Yesterday, Monmouth released their new survey for this district (Sept. 26-30; 374 likely VA-10 voters), and it shows her gaining strength when compared to their June data. Still, Wexton leads in all three of their projected turnout models, but it is clear that the momentum is moving in Comstock’s direction.

Under the standard midterm participation model, the Wexton lead is 50-44 percent. If the turnout is low, her margin dips to 50-46 percent. And, if a “Democratic surge” actually takes hold of the electorate, the margin increases to 53-42 percent.

Though Rep. Comstock is behind under all turnout models, her standing has improved in each since June, and reports from inside her campaign suggest the numbers might be even better. Under the standard turnout model forecast in June, the Comstock gain is a net three percentage points. Within the low turnout model, she gains a net five points, and even her standing vis-a-vis the “Democratic surge” is better, by a net two percent.

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The Spending Clues

By Jim Ellis

nrcc-dcccSept. 28, 2018 — The old saying, “put your money where your mouth is,” certainly applies to campaign politics, and we have new evidence of that. Currently, there is much conjecture and banter about which candidates are going to win various House races, including media prognosticators making predictions about how the Nov. 6 election will unfold, but a better clue as to what the party leaders actually believe can be found in their spending reports.

Looking at the most recent independent expenditures from the Democratic Congressional Campaign Committee (DCCC) and the National Republican Congressional Committee (NRCC) tells us which races the party leadership believes are their top current priorities. For a full report on all recent expenditures, check the Daily Kos Elections blog, Daily-Kos-Elections-Live-Digest-9-26.

Though the latest expenditure reports tell us which are the hot, undecided races, they don’t provide the entire picture. Media market size and previous expenditure amounts also must be considered, particularly the former. For example, a $378,000 DCCC media buy in the 2nd District of Kansas is major, whereas spending $375,000 in Nevada’s 3rd District wholly contained in the expensive Las Vegas market isn’t nearly as large even though the dollar amounts are equivalent.

That being the said, the districts where the DCCC is spending more than $500,000 in current expenditures are:
• VA-10: Against Rep. Barbara Comstock (R-McLean) – $567,000
• MN-1: Open seat defense district – $539,000
• WA-8: Open seat conversion opportunity – $518,000
• NV-4: Open seat defense district – $508,000
• MN-8: Open seat defense district – $500,000

The NRCC is spending similar amounts but not as much in:
• WA-8: $484,000
• FL-26: Protecting Rep. Carlos Curbelo (R-Miami) – $435,000
• VA-10: $422,000

Obviously, the VA-10 and WA-8 races are very hot because both districts are at the top of each party’s expenditure lists.
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Four Races Appear Done

By Jim Ellis

Oct. 5, 2016 — The two political parties continue to make financial decisions with regard to Senate race funding. More became public at the beginning of this week, as both the Democratic Senatorial Campaign Committee (DSCC) and the National Republican Senatorial Committee (NRSC) canceled major ad buys in several states, again telling us how the respective party organization leaders believe several key campaigns will end on Nov. 8th.

In two instances, according to the Daily Kos Elections page, the DSCC reduced media buys in states where their candidates are challengers. Most of the time, such a move would suggest that prospects are yielding favorable conclusions for the Republican incumbents. In Wisconsin and Illinois, however, the opposite appears true.

The moves suggest that leadership in both parties believes that former Sen. Russ Feingold (D) will unseat GOP Sen. Ron Johnson. Last week the DSCC released a major part of their final electronic media reservation ironically saying that Feingold is secure because he continues to hold an uncontested polling lead.

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Follow the Money

By Jim Ellis

Oct. 4, 2016 — The Wesleyan Media Project released their campaign advertising study for the 2016 election cycle and, focusing on their Senate data that Kantar Media/CMAG compiled, the information gives us strong clues as to which races are the most important to each party. The report also provides clues as to which media campaigns and strategies are working and those that are lacking.

The study tracked ads run in 20 states featuring Senate general election campaigns, from a high of 18,265 ads aired (Pennsylvania) to a low of 18 (Kansas). The tested period spanned from Aug. 19 to Sept. 15. In the 20 states, an aggregate of 104,522 ads aired in the various markets. Those backing Republican candidates or opposing Democratic contenders accounted for approximately 53 percent of the total study period buy.

Though Pennsylvanians have seen the greatest number of Senate ads, the most money spent during the period was in New Hampshire ($16.9 million). This is because the overwhelming number of ads purchased was in the expensive Boston media market.

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Money Talks

The first quarter financial disclosure statements have been filed for House incumbents and challengers and, as always, the fundraising amounts tell many tales. Naturally, the most prolific fundraisers are elected partisan leaders or committee chairmen, but this report is more indicative about those in marginal districts or who are committed to, or considering, a bid for statewide office. The axiom of the most committed candidates being the best early fundraisers again rings true during the current period.

Looking at the rank-and-file House incumbents and candidates, particularly those newly-elected congressmen, it appears that $300,000 raised for the quarter beginning Jan. 1, 2013 is the benchmark. Grading on a curve, anyone attaining or exceeding this level has earned first tier political status.

Best Fundraisers

The top fundraising House district can be found in the Denver suburbs, where 6th District Rep. Mike Coffman (R) and Democratic challenger Andrew Romanoff (D), the former state House Speaker and defeated Senatorial candidate (2010; losing the Democratic nomination to then-appointed Sen. Michael Bennet), both exceeded $500,000 in recorded campaign receipts for the first quarter.

Coffman raised $510,000, just behind Romanoff’s $514,000. The challenger has about a $100,000 edge in cash-on-hand. The court-drawn redistricting map presented Coffman with a much more Democratic district than the one to which he was originally elected in 2008. He was victorious in 2012, obviously, but did not reach the 50 percent plateau, winning re-election with 48 percent of the vote. The mid-term turnout pattern should help Coffman, but Romanoff is likely a stronger opponent than former state Rep. Miklosi, the congressman’s opponent last November.

The runner-up district is New York’s 11th CD, where Rep. Michael Grimm (R)  Continue reading >