We already knew that Maryland’s U.S. Senate race between Democrat Angela Alsobrooks and Republican Larry Hogan is an expensive one, based on the endless TV commercials, text ads and mailers. Now there are new numbers to quantify just how expensive.
Maryland’s Future, the pro-Hogan super political action committee responsible for the lion’s share of advertising, is the biggest spender in the race, according to federal campaign finance reports.
The latest reports cover campaign activity for the three-month period from July 1 through Sept. 30.
Big numbers for a super PAC
Maryland’s Future has taken in more than $27 million in donations so far this season and spent nearly $11 million — almost all of that during the latest reporting period. As of Sept. 30, Maryland’s Future still had $16 million in the bank, which is enough money to keep blanketing the airwaves and filling your mailbox.
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Maryland’s Future was formed earlier this year, largely funded by an initial infusion of $10 million from Kenneth Griffin, a Republican megadonor who is the billionaire founder and CEO of the hedge fund Citadel LLC.
In this most recent quarter, Maryland’s Future took in significant contributions from: James S. Davis, chairman of New Balance ($1 million), Stephen A. Wynn of Wynn Resorts ($1 million), Manzanita Action Fund in California ($1 million), Stephen A. Schwarzman, chairman of the Blackstone Group investment management company ($1.5 million), and Thomas Peterffy, chairman of Interactive Brokers brokerage firm ($1.5 million) and the Senate Leadership Fund ($2 million).
Alsobrooks outraises Hogan
Going into the final weeks of the campaign, Alsobrooks and Hogan had nearly the same amount of money in the bank, about $3.4 million. But they got there in different ways.
Alsobrooks reported a fundraising haul of $13.4 million in the reporting period, for nearly $26 million total since she entered the race last year. She’s spent $22.5 million so far and entered October with just shy of $3.4 million in the bank.
Hogan’s fundraising is not quite as robust. Between his own campaign account and the Hogan Victory Fund, a joint effort between Hogan and the National Republican Senatorial Committee, his team raised $8.5 million in the quarter and a total of nearly $18 million since he joined the race in February.
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Those two Hogan accounts had a bit more than $3.4 million combined on hand to start October, according to the reports.
Hogan’s team promoted that there have been 26,000 donors to his campaign, with “most” of them from Maryland.
“We are grateful for the strong local and grassroots support Governor Hogan has received throughout this campaign,” Hogan spokeswoman Blake Kernen said in a statement. “Marylanders are ready to send strong, independent leadership to Washington that puts country over party and people over politics.”
Alsobrooks also claimed local support with 37,570 donors from Maryland. “This campaign runs on grassroots support from all across Maryland — not out-of-state Republican billionaires who want to control the Senate,” Alsobrooks wrote on social media, a clear dig at the Maryland’s Future super PAC.
Other entities have been spending in Maryland’s U.S. Senate race, including Emily’s List and the state and national Democratic and Republican parties — but because they all support multiple candidates, it’s trickier to parse out exactly how much they are spending in this race.
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The race is getting national attention and involving big dollars because it’s among those competitive this year, with the potential to determine the balance of power in the U.S. Senate. Democrats hope to hold or expand their 51-49 majority, while Republicans hope to flip enough seats, including Maryland, to gain control. Maryland’s seat is open for election this year following longtime Democratic Sen. Benjamin Cardin’s decision not to run again.
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