In the nation's most expensive Senate race, James Talarico has raised $128.8 million for Texas's open Senate seat. His Republican opponent, Ken Paxton, has raised $19.5 million. That's a 7 times difference in a race the handicappers rate a toss-up. Libertarian Theodore E Brown Jr is also on the ballot.
The gap is narrower on cash. As of Sept. 30, Talarico had $14.6 million on hand with zero debt. Paxton had $4.93 million on hand and zero debt.
Who's writing the checks? The donor bases look very different:
- Talarico: Lawyers top his list at $2.26 million, followed by physicians ($898,000), business owners ($434,000) and CEOs ($408,000). It's a professional-class donor base. Lawyers alone gave him more than twice what Paxton's top four occupations gave combined ($1.1 million).
- Paxton: CEOs top his list at $498,000, followed by lawyers ($228,000), business owners ($181,000) and company presidents ($178,000). It's a small-business and executive coalition.
- Retirees matter on both sides. Donors listed as not employed or retired account for 51% of Talarico's itemized individual dollars ($14.7 million) and 28% of Paxton's ($2.0 million).
- Neither leans on committees: 2% of Talarico's receipts and 1% of Paxton's came through other committees.
What to watch: Outside groups have already spent $64.9 million in Texas, most of it opposing the Republican. Still, Paxton's $4.93 million in cash on hand is less than 34% of Talarico's $14.6 million, and a candidate with far less cash depends more on super PACs and party committees to compete on the airwaves.
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