Republicans are staring down a rough political environment, daunting historical trends and an increasingly unpopular president.
But the GOP won’t be hurting for cash this year, a new tranche of campaign-finance reports filed this week makes clear.
Consider some of these disparities:
— Senate Leadership Fund, a super PAC aligned with Senate Majority Leader John Thune, began the year with $100 million in the bank. Its Democratic counterpart, Senate Majority PAC, had $36 million and took out a $12.4 million loan.
— MAGA Inc., a pro-Trump super PAC that will spend for Republicans in the midterms, is sitting on a stunning $304 million.
— Congressional Leadership Fund, the top House GOP super PAC, has $54.5 million banked, compared to $46 million for Democrats’ House Majority PAC.
— The financial gap between the DNC and the RNC is growing even more alarming. The DNC ended the year with $14 million in the bank and $17.5 million in debt. The RNC has $95 million in the bank.
— The NRCC outraised the DCCC by roughly $2 million in 2025 and has a slight advantage in cash on hand. This difference is negligible. But it’s still noteworthy because the NRCC has historically lagged far behind the DCCC in fundraising. The NRCC says the last time they outraised Democrats in an off-year was 2015. Republicans have figured out how to close that gap.
Some Senate toplines. Texas Attorney General Ken Paxton led the pack for fundraising in the Lone Star State’s Senate GOP primary with $1.1 million.
Sen. John Cornyn (R-Texas) raised $1 million in Q4 for his campaign, but an affiliated joint fundraising committee raised $5.4 million. And the long-time incumbent has the most cash-on-hand by far with nearly $5.9 million in the bank as of Dec. 31.
Rep. Wesley Hunt (R-Texas) raised just $429,000.
— Two candidates preferred by establishment Democrats were outraised by primary opponents. Maine Gov. Janet Mills raised $2.7 million compared to oyster farmer Graham Platner’s $4.6 million. Both outraised Sen. Susan Collins (R-Maine), although she’s sitting on an $8 million warchest. SLF has already committed to spend tens of millions of dollars on Collins’ behalf too.
And Iowa state Rep. Josh Turek raised $677,000 for his bid for the Democratic nomination in Iowa’s open-seat Senate race. That’s slightly less than Iowa state Sen. Zach Wahls’ haul of $742,000.
— None of the Georgia Senate GOP candidates cleared $2 million raised. Sen. Jon Ossoff (D-Ga.) raised $9.9 million and has a staggering $25 million in the bank.
— Illinois Gov. JB Pritzker gave $5 million to a super PAC backing Lt. Gov. Juliana Stratton for Illinois’ open Senate race.
— In Minnesota’s Senate race, Democratic Lt. Gov. Peggy Flanagan raised $1 million to Rep. Angie Craig’s (D-Minn.) $2 million. And Flanagan spent more than she raised.
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