Tag Archives: FEC

Campaign Dollars – Quarter 1

By Jim Ellis

April 25, 2022 — The Federal Election Commission (FEC) has released the campaign finance reports for the quarterly period ending March 31, and the Daily Kos Elections site analysts have published their regular comprehensive summaries for all Senate and House incumbents and candidates.

In the Senate, the top fundraisers for the campaign-to-date are familiar names, and they are repeating their overwhelming performance from the 2020 election cycle. For the 2022 race, Georgia Sen. Raphael Warnock (D) reports $44.2 million in receipts with a cash-on-hand total of $25.6 million. Both are higher than any individual running for the Senate in the 2022 cycle. Sen. Mark Kelly (D-AZ) is close behind, raising $39.0 million for the campaign cycle with $23.3 million in his treasury.

Based upon state population segments, Sen. Kelly is actually the stronger of the two because he comes from a smaller state. Dividing the funding evenly by congressional district, Sen. Kelly averages $4.3 million per his state’s nine congressional districts, while Sen. Warnock posts $3.2 million per Georgia’s 14 CDs.

The next most prolific fundraisers come from the same race. Florida Congresswoman Val Demings (D-Orlando) is the top money producing challenger in the country, posting $30.5 million in receipts for the campaign cycle. Her opponent, Sen. Marco Rubio (R), is virtually even with her, attracting $29.3 million. Cash-on-hand is about dead even, too. Rep. Demings reports $13.2 million in her account; Sen. Rubio, $13.1 million.

For the Republicans, the top challenger fundraiser, though he is leagues behind general election opponent Sen. Warnock, is Georgia’s Herschel Walker with $14.2 million raised.

The aggregate group of Senate candidates raising the most in one challenger contest is found in Wisconsin, as Democrats Alex Lasry, state Treasurer Sarah Godlewski, and Lt. Gov. Mandela Barnes have cumulatively brought in $18.2 million. Lasry, an executive with the Milwaukee Bucks professional basketball club, has gross receipts of over $9 million, but $5.8 million is self-sourced. Godlewski reports $5.1 million in total dollars raised, but $3.3 million comes from herself. Lt. Gov. Barnes has raised $4 million without any self-funding. For his part, Sen. Ron Johnson (R) has obtained $10.8 million for his 2022 re-election campaign.

The most prolific open seat fundraisers are in Pennsylvania and Ohio. The combined candidate dollar total in the Keystone State exceeds $45 million, but almost $18 million of that total is self-funded from Dr. Mehmet Oz (R) and former hedge fund CEO David McCormick (R). The group from Ohio is close behind with $44.8 million obtained. In this case, we see a combined self-funding total that exceeds $21 million.

On the House side, a total of 32 incumbents and challengers raised over $1 million just during the first quarter. Naturally, the party leaders, Minority Leader Kevin McCarthy ($4.3 million), Minority Whip Steve Scalise ($3.4 million) and Speaker Nancy Pelosi ($3.3 million) are the most prolific.

Majority Leader Steny Hoyer ($510,000) and Majority Whip Jim Clyburn ($284,000) are clearly not in the top echelon, but are likely spending their time raising funds for their leadership PACs or the Democratic Congressional Campaign Committee (DCCC). Additionally, with Democratic incumbents and candidates raising considerably more than their Republican counterparts, the individual campaigns need less from Washington.

The top non-incumbents breaking the $1 million mark for the quarter are Jessica Cisneros, now in a Texas Democratic runoff with Rep. Henry Cuellar (D-Laredo) and Marcus Flowers, who is challenging Georgia Rep. Marjorie Taylor Greene (R-Rome), both at $2.4 million.

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Senate Money

By Jim Ellis

April 23, 2021 — Continuing our analysis of early 2022 campaign cycle fundraising based upon the first quarter 2021 Federal Election Commission disclosure reports, today we look at the key US Senate contests.

Tracking the Senate race dollars is much different than the House because the FEC groups incumbent statewide campaigns by election cycle. Therefore, the receipts column covers the period from when the incumbents last ran through March 31, 2021. This means the senators are reporting dollars raised from Jan. 1, 2017 through the first quarter deadline. For candidates just entering the 2022 campaign — those in the open seats for example — the disclosure period begins Jan. 1, 2021.

Therefore, the receipts category is not as telling for Senate campaign standing as it is for the House campaigns. Thus, the key category to gauge where the Senate candidates stand in relation to the 2022 campaign cycle is their cash-on-hand total.

The chart below focuses on the races thought to be competitive for the 2022 election. As we have seen in modern times, the financial aspect of Senate campaigns is less important than for the House in determining or projecting final outcome because so much is now spent on the statewide races even in the smallest of states.

Typically, Senate nominees from both parties consistently have more than adequate financial resources with which to communicate their messages. Furthermore, the current income/spending figures as they relate to candidate committees don’t account for the large amount of outside independent expenditures that now accompany almost all competitive US Senate campaigns, which certainly can alter final outcome.

In terms of clarification, Sen. Raphael Warnock’s (D-GA) total of $27,517,878 includes the amount raised for his statewide runoff campaign that was decided on Jan. 5, 2021. This explains why his receipts total is so high, and far beyond any other incumbent or candidate listed on the chart.

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Does Money Matter in Presidential Campaigns?

While presidential candidate Herman Cain is vaulting up the polling charts – the latest Rasmussen Reports poll (Oct. 14-15; 1,000 likely voters) actually puts him ahead of President Obama 43-41 percent – his campaign is lagging behind in spendable resources. According to the just-filed FEC financial disclosure reports, the retired business executive only has $1.34 million cash-on-hand with $675,000 in debt. This contrasts with former Massachusetts Gov. Mitt Romney’s $16.46 million and Texas Gov. Rick Perry’s $15.08 million. Rep. Ron Paul (R-TX-14) is next with $3.67 million in the bank.

It is often said that political money is least important in a presidential race because of the extensive earned media coverage the candidates receive. This is true to a point, but Cain’s financial shortcomings, should they continue, might be felt in places like Iowa, the site of the nation’s first delegate selection event. The fact that the campaigns must convince their supporters to attend an actual political meeting instead of just going to vote, means a stronger organization requirement is necessary.

Immediately after Iowa, the campaigns will pivot to New Hampshire, Nevada, South Carolina and Florida, all within the month of January. Feeding such a mobile political machine will be expensive, so Cain will need to command greater resources if he is to fulfill his current standing. Failing to produce in the early states will be seriously problematic for Mr. Cain, since the expectation level surrounding his campaign has grown exponentially.