New campaign finance reports show U.S. Sen. Jon Tester maintains a large fundraising advantage over Republican challenger Tim Sheehy, while Republican candidates for U.S. House hold an edge in their races.
Tester, seeking a fourth term, raised $6.4 million from mid-May to the end of June and has $11 million in hand. For the election cycle, the incumbent from Big Sandy has raised more than $43.7 million, a record amount, and three times larger than his campaign war chest as reported in July 2018.
Sheehy, a newcomer to politics recruited to challenge Tester by Republican Senate leadership, posted $3 million in donations from mid-May to June and has $3.2 million on hand. Since declaring his candidacy in July 2023, Sheehy has raised $13.7 million, a sum that includes $2.6 million in contributions from the candidate.
A financial edge doesn’t necessarily equate to votes. In past elections, Tester’s vote share has been better than 50% just once, while his cash advantage has at times more than doubled his opponents’ resources. In 2018, Tester outraised challenger Matt Rosendale four-to-one.
Sid Daud and Michael Downey, Libertarian and Green Party candidates for Senate respectively, neither raised nor spent to the $5,000 threshold at which point federal candidates must disclose fundraising.
In Montana’s eastern U.S. House district, which includes Billings, Great Falls, Helena, and all points east, Republican Troy Downing raised $2 million to win his eight-candidate primary. Downing’s finances show that the candidate loaned himself $1 million. He is currently Montana state auditor.
Eastern district Democrat John Driscoll, of Helena, who won a four-way June primary, hasn’t spent or raised donations to the $5,000 threshhold at which finance reporting is required. A former state legislator and Montana utility commissioner, Driscoll has vowed to keep his campaign spending to a minimum, as he did during a 2008 U.S. House race. Counties comprising the eastern district have historically favored Republican House candidates by, on average,19 percentage points.
Western district Republican Rep. Ryan Zinke raised $1 million from mid-May through June and has $3.1 million cash on hand. For the election cycle, Zinke, of Whitefish, has raised $6.9 million.
Democratic western district challenger Monica Tranel finished the quarter with $2 million on hand and $773,000 raised from mid-May through June. Tranel, a Missoula attorney, has raised $3 million since becoming a candidate last year.
Western district Libertarian candidate Dennis Hayes, a retiree from Townsend, didn’t meet minimum federal reporting requirements.
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What happens to the cash when the campaigning ends?
Federal candidates and incumbents often leave political life with sizable balances in their campaign committee coffers. And constituents frequently ask journalists what happens to the money politicians leave on the table.
