Billionaires, dark money fuel questions ahead of 2026 midterms
From CBS News: Billionaire donors are gearing up to be a major force in shaping the 2026 midterm elections, continuing a pattern of massive election spending since the Citizens United decision in 2010. In 2024, megadonors spent more than $3 billion on elections, led by Elon Musk, the world’s richest man who spent over $290 million backing President Trump’s re-election bid. Although Republican organizations are leading Democrats in cash on hand, both parties are benefitting from a system that allows massive amounts of money to flow between donors, nonprofits, and political organizations. In some cases, the same individuals work for two separate organizations that are nominally prohibited from sharing expenses and information.
Democrats’ fundraising dominates key midterm races: What we learned from the latest campaign filings
From The Hill: New campaign finance filings are beginning to show the financial landscape of the 2026 midterms. Democratic candidates are leading in fundraising in several key Senate races, including Texas Democrat James Talarico, who has raised more than $27 million for his campaign, and Georgia Sen. Jon Ossoff, who has raised more than $14 million for his re-election bid. On the other hand, Republicans have a lead in Super PAC fundraising. The Senate Leadership Fund, the primary Super PAC supporting Senate Republicans, raised more than $72 million in the first quarter of 2026, compared to the Senate Majority PAC, its Democratic counterpart, which raised more than $56 million.
Republican super PAC’s multi-hundred-million dollar ad buy shows a Senate GOP on defense
From POLITICO: The Senate Leadership Fund recently announced a $342 million ad buy across eight battleground states ahead of the 2026 midterm elections. The PAC plans to spend the majority of the money defending 5 competitive Senate seats currently held by Republicans in Alaska, Iowa, Maine, North Carolina, and Ohio. It plans to spend the remaining $107 million in Georgia, Michigan and New Hampshire. Ohio will see the largest amount of spending, with more than $79 million in ad spending planned.
Ahead of 2028, Vance Collects Cash, Chits and Contacts
From The New York Times: Many potential Presidential candidates are already looking past the 2026 midterms to the 2028 elections, including Vice President JD Vance. Vance also serves as the Republican National Committee’s finance chair, positioning him to build relationships with major Republican donors. Although Vance has dodged questions about whether he plans on running in 2028, he has participated in many RNC fundraising events that have raised more than $60 million for the party. Some donors have even admitted that they’re donating to the RNC now because they want to curry favor with the Vice President, on the assumption that he will run for and likely win the Republican nomination in 2028.
