Political campaigns live and perish by the amount contributed, whether the money flows in from small donors or super PACs. And the upcoming midterms are no exception.

                By                    Nicole Spector

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“What is interesting is how candidates from each party are obtaining their money,” said David Carlucci, a former New York State senator. “While Democrats receive most of their funding through donations, Republicans are favored by outside groups or Independent expenditures. Additionally, although the Democrats are currently outraising their competitors across the aisle, their grassroots campaigns are losing momentum as it becomes closer to Election Day. On the other hand, wealthy contributors have yet to tap out of the funding cycle, usually favoring the Republicans.”

Not surprisingly, as Dr. Jim Ronan, a political science professor at Villanova University points out, the most competitive races are happening in the key swing states of Arizona, Georgia, Nevada, Pennsylvania and Wisconsin. 

“Except for Nevada, each of these states was won by Trump in 2016 but flipped to Biden in 2020,” Ronan said. “Thus, Republicans are targeting Arizona, Georgia, and Nevada as potential picks up, while Democrats are doing the same in Pennsylvania and Wisconsin.”

Here are the most expensive and heated senatorial races in the 2022 midterms and how much money they’ve raised.

Arizona 

As of September 30, Democratic incumbent Mark Kelly has raised $73,140,886, while his Republican opponent, Blake Masters, has brought in $9,689,059, according to OpenSecrets.com. 

Total money in the race: $82,829,945

Georgia 

Democrat Raphael Warnock, who has raised $86,581,470 as of September 30, according to data from OpenSecrets.com, is going up against former football star Herschel Walker, the Republican candidate, who has raised $31,624,855. 

Total money in the race: $118,206,325

Nevada 

Catherine Cortez Masto, a Democrat, is vying for reelection in Nevada and has raised as of September 30, $44,008,151 according to data from OpenSecrets.com. Her opponent, the Republican Adam Laxalt, has pulled in $13,340,336. 

Total money in the race: $57,348,487

Pennsylvania 

On the Republican side is TV personality Dr. Mehmet Oz, who has amassed $34,861,951, according to data from OpenSecrets.com dated September 30. His Democratic opponent, John Fetterman, has pulled in $47,977,497. 

Total money in the race: $82,839,448

Wisconsin 

Incumbent Republican Ron Johnson has raked in $28,934,569, and his main opponent, Democrat Mandela Barnes, has raised $26,170,525. 

Total money in the race: $55,105,094

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“The bottom line is the costs of these key races are astronomical,” Ronan said. “And these figures are now nearly a month old and don’t reflect spending in the final weeks of the campaign, which always increases the closer we get to Election Day.”

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