(Bloomberg) — Senate Republicans count billionaire Ken Griffin, Chevron Corp., and Occidental Petroleum Corp. among their top donors, but it’s the Democrats in the chamber who are raising the most money by a wide margin.
Democrats, who risk losing Senate control in one of the toughest election cycles in decades, have the backing of deep-pocketed donors, including hedge fund manager George Soros, Renaissance Technologies founder Jim Simons and billionaire Jeff Skoll, who was the first full-time employee of eBay Inc.
That’s helped Democratic candidates in seven highly contested Senate races, the party’s campaign apparatus and allied super political action committee to build a cash advantage over their Republican opponents at the end of the first quarter, according to the latest Federal Election Commission filings.
Democrats Have Big Cash Advantage in Senate Battlegrounds | Republican candidates trailed at the end of the first quarter
Democratic Senate candidates in those battleground states collectively had $48.1 million cash in the bank at the end of the first quarter, compared to the $28.2 million their Republican rivals reported, according to the FEC.
The money woes are a headwind for Senate Republicans, who seek to win a majority to pursue legislation to bolster US-Mexico border security and renew expiring tax cuts. It’s also a warning sign for presumptive GOP nominee Donald Trump, who needs to win many of the same states hosting crucial Senate races. In his own race, Trump trails President Joe Biden on fundraising, with less than half the cash on hand as his rival.
Republicans have a strong chance of winning the Senate, where they hold 49 seats and need to flip two for a majority. The GOP is defending just 11 seats, none of which are close races, according to the Cook Political Report. By comparison Democrats are defending 23 seats, many of which will be close, including four races in Montana, Ohio, Nevada and Arizona that Cook Political Report rates as “toss ups.” Democrats are likely to lose the West Virginia seat held by retiring Senator Joe Manchin.
Democrats Stockpiled More Party and Super PAC Cash | GOP had less money to support its Senate candidates
The GOP has two things working in its favor: Reliable mega-donors, including Griffin and the Charles Koch-backed Americans for Prosperity super PAC, who have said they will focus on electing Republicans to Congress in 2024 and wealthy candidates who are able to put some of their own fortunes into their campaigns.
The only Republican candidate running in a competitive race to bring in more money than their Democratic opponent in the first quarter is financial executive Eric Hovde, who is challenging Senator Tammy Baldwin in Wisconsin. He did so by loaning $8 million to his election effort.
Three other Republicans are partially self-financing their campaigns: Dave McCormick, the former chief executive officer at hedge fund Bridgewater Associates, who is running against Senator Bob Casey in Pennsylvania; Ohio businessman Bernie Moreno, facing Democratic incumbent Sherrod Brown; and Bridger Aerospace founder and CEO Tim Sheehy, running against Jon Tester in Montana.
GOP Candidates Bankroll Their Own Campaigns | Senate hopefuls can rely on their own wealth to close money gap
Most Read from Bloomberg
©2024 Bloomberg L.P.
News Related
-
Anyone who’s purchased gift baskets to hand out to loved ones this holiday season might need to find a backup present after the latest food recall that involves festive cookies. Gift basket company Wine Country Gift Baskets just announced that it is voluntarily recalling all gift baskets that feature Acorn Baking ...
See Details:
Recall Just Announced For Popular Cookies Featured In Holiday Gift Baskets
-
LOS ANGELES: Quarterback Jalen Hurts ran in an overtime touchdown to give the Philadelphia Eagles a 37-34 NFL win over the Buffalo Bills Sunday (Monday in Manila) and move them to 10-1 on the season. The Eagles, who lost the Super Bowl to Kansas City last season, trailed at half-time ...
See Details:
Eagles rally past Bills in overtime as Chiefs win
-
Yen Makabenta First word WHILE UN Secretary-General Antonio Guterres and other promoters of the climate emergency are preparing to convene the 28th conference of the parties (COP28) of the UN Framework Convention on Climate Change (UNFCCC) in the United Arab Emirates, starting on November 30 and stretching to December 12, ...
See Details:
Reality bites the green energy agenda
-
Sandigan orders Marcos Sr. pal to pay workers The Sandiganbayan has ordered the enforcement of a July 2023 ruling ordering a Marcos Sr. associate to pay a lumber company’s workers P2.1 million in damages as well as return 60 percent of their company’s shares and pay all unpaid benefits. The ...
See Details:
Sandigan orders Marcos Sr. pal to pay workers
-
DSWD: Shear line, LPA affect 1.2 million people; over 18,000 families evacuated MANILA, Philippines – More than 18,000 families have fled to evacuation centers across flood-affected regions in the country due to the impact of the shear line and low pressure area. Department of Social Welfare and Development (DSWD) gave ...
See Details:
DSWD: Shear line, LPA affect 1.2 million people; over 18,000 families evacuated
-
-
MANILA, Philippines: The entire Luzon, including Metro Manila, is expected to experience isolated rain showers and thunderstorms as the northeast monsoon (“amihan”) and easterlies will be affecting the country over the next 24 hours, the state-run weather agency said on Tuesday. Weather specialist Patrick del Mundo of the Philippine Atmospheric ...
See Details:
Rain showers, thunderstorms over Luzon, including Metro Manila — Pagasa
-
Attention, Naruto fans! You can soon watch the famous anime’s live-action adaptation as it finally has a confirmed writer. According to a Variety report, the beloved manga and anime series is set to head to big screens for its live-action adaptation under Lionsgate. It will be written by Tasha Hao, ...
See Details:
'Naruto' live-action film adaptation is in the works
-
Attention, Naruto fans! You can soon watch the famous anime’s live-action adaptation as it finally has a confirmed writer. According to a Variety report, the beloved manga and anime series is set to head to big screens for its live-action adaptation under Lionsgate. It will be written by Tasha Hao, ...
See Details:
NASA Highlights Stingray Nebula
-
Attention, Naruto fans! You can soon watch the famous anime’s live-action adaptation as it finally has a confirmed writer. According to a Variety report, the beloved manga and anime series is set to head to big screens for its live-action adaptation under Lionsgate. It will be written by Tasha Hao, ...
See Details:
Manila's Lagusnilad underpass opens
-
Attention, Naruto fans! You can soon watch the famous anime’s live-action adaptation as it finally has a confirmed writer. According to a Variety report, the beloved manga and anime series is set to head to big screens for its live-action adaptation under Lionsgate. It will be written by Tasha Hao, ...
See Details:
China probes debt-ridden financial giant
-
Attention, Naruto fans! You can soon watch the famous anime’s live-action adaptation as it finally has a confirmed writer. According to a Variety report, the beloved manga and anime series is set to head to big screens for its live-action adaptation under Lionsgate. It will be written by Tasha Hao, ...
See Details:
China's VUCA situation
-
Attention, Naruto fans! You can soon watch the famous anime’s live-action adaptation as it finally has a confirmed writer. According to a Variety report, the beloved manga and anime series is set to head to big screens for its live-action adaptation under Lionsgate. It will be written by Tasha Hao, ...
See Details:
Unraveling the mystery that is diabetes
-
Attention, Naruto fans! You can soon watch the famous anime’s live-action adaptation as it finally has a confirmed writer. According to a Variety report, the beloved manga and anime series is set to head to big screens for its live-action adaptation under Lionsgate. It will be written by Tasha Hao, ...
See Details:
Bangladesh's nuke plant is not going to steal PH investments
OTHER NEWS
ALIW Awards Foundation Inc. President Alice H. Reyes has released the names of finalists for the 2023 Aliw Awards to be presented on Dec. 11, 2023, at the Manila Hotel ...
Read more »
WhatsApp Web gains the feature of single-view photos and videos (Photo: Unsplash) The WhatsApp Web, the desktop version of the popular messaging app from Meta, has received an update allowing ...
Read more »
Young athletes’ time to shine in Siklab Awards MANILA, Philippines — The future heroes of Philippine sports will be honored during the third Siklab Youth Sports Awards on Dec. 4 ...
Read more »
Graphics by Jannielyn Ann Bigtas A local government official said Monday that five to 10 barangays in Northern Samar are still isolated following the massive flooding in the area last ...
Read more »
DyipPay app lets you pay jeepney fare, book tricycles “Barya lang po sa umaga.” Everyone who rides jeepneys knows this rule: it may not be an actual law, but it’s ...
Read more »
Updated In-Season Tournament Bracket ahead of pool play finale Tuesday will mark the last day of pool play for the inaugural NBA In-Season Tournament. From there, six first-place teams and ...
Read more »
PCG forms teams for maritime emergency response MANILA, Philippines — Recent incidents of fishermen lost in the waters off Southern Tagalog have prompted the Philippine Coast Guard (PCG) to form ...
Read more »