US dollar banknotes. Both parties' biggest spenders are pouring record sums into the midterms. (Image: Hamster28 / Wikimedia Commons — Public domain)
The midterm money race has entered its final, most expensive phase: President Donald Trump says he will have spent more than $400 million backing Republican candidates by Election Day, while former New York City mayor Michael Bloomberg is sending about $80 million to help Democrats in the closing weeks.
"I have spent, or will be spending, over 400 Million Dollars by Election Day. More than 300 Million Dollars has already been spent on Advertising, Direct and Indirect Voter Contact, Rallies, Rally Arenas, Telerallies, Get Out the Vote Programs, Election Integrity, and more," Trump wrote on social media on Tuesday. Campaign filings show that his super PAC, MAGA Inc., and an affiliated group, No Going Back PAC, have already spent at least $226 million on the elections.
Bloomberg's team told the New York Times that the billionaire former mayor sent roughly $80 million to Democratic efforts in September and October. At least $50 million of it is aimed at House races, including $24 million for Everytown for Gun Safety, the gun-control group Bloomberg co-founded, and $16 million for House Majority PAC, the main super PAC aligned with House Democratic leadership. Bloomberg's office did not immediately respond to a request for comment, and Reuters said it had not independently verified the spending.
The twin commitments underline what is at stake on November 3. Democrats are trying to win back control of Congress from Trump's Republicans, and both parties are flooding competitive districts with advertising and turnout operations in the final fortnight. Trump's personal spending pledge is unusual for a sitting president not himself on the ballot — he has framed the midterms as a referendum on his presidency and has campaigned accordingly, telling voters to treat the election as if his name were on it.
The spending surge also lands as polls show Democrats leading nationally, setting up a familiar American contest: whether money can close an enthusiasm gap, or merely spend against it. The answer arrives on November 3.
Also read: Trump's record-low 32% approval in the latest CNN poll | the Democratic lawsuit over state voter rolls