Circle · Elon Musk · Democrats · Republicans · US Senate · White House · CNBC Technology
One of the last big campaign-finance snapshots before the Nov. 3 Election Day is now available
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On one side, Democratic candidates have turned into absolute cash cows, raising oodles more than their Republican rivals across Senate and House battlegrounds.
Key facts
- James Talarico raised $60.2 million in Texas, Jon Ossoff brought in $33.1 million in Georgia and Abdul El-Sayed raised $30.7 million in Michigan
- Musk gave the SLF $75 million on Sept. 9 and another $83 million on Sept. 23
- The Senate Leadership Fund, the GOP's main Senate super PAC, raised a record $272.9 million from July through September, roughly $122 million more than its Democratic counterpart, according to FEC
- AdImpact projects $11.6 billion in political advertising during the 2025-26 election cycle, which would make 2026 the most expensive cycle on record, surpassing both the $8.9 billion spent
Summary
Republicans, however, still have a leg to stand on from an unprecedented flood of outside super PAC cash, bankrolled by a tiny circle of billionaires led by Tesla and SpaceX CEO Elon Musk. A flurry of Federal Election Commission filings Thursday at a key deadline detailed what candidates raised and spent from July through September and give insight into many of the outside groups backing them. If Democrats want a financial case for a blue wave, start with the candidates themselves. Democratic Senate nominees put up gaudy third-quarter totals.