In Fundraising Race, GOP Is Winning by a Lot

Democrats may be headed into the 2026 midterms with momentum—but Republicans are the ones with the cash. New filings show the GOP's main party committees and top House and Senate super PACs entered the year with about $320 million on hand, more than double Democrats' $137 million after accounting for debts. Add President Trump's $304 million super PAC and tens of millions more spread across his other accounts, and Republicans are starting the midterms with a financial edge that strategists in both parties call unprecedented, reports the New York Times in a long look at the financial disparity. "Any Democrat who isn't concerned isn't serious," says one leading Democratic operative.

What happens next could widen the gap. A looming Supreme Court ruling is expected to let parties tap big donors to buy cheaper TV ad time than they've so far been allowed to, an advantage Republicans have been preparing to exploit by stockpiling cash. Elon Musk has resumed major GOP giving after a public split with Trump, while crypto and AI-aligned super PACs are lining up to boost Republicans or weaken key Democrats. Democratic Senate candidates are still outraising many GOP rivals, but the DNC is in debt, its main 2024 super PAC has largely gone quiet, and some donors are both fatigued and wary of becoming Trump targets. See the full story at the Times.