Angela Alsobrooks and Larry Hogan have raised a combined $19.5 million in their race for Senate, more than half of that in the last quarter, putting the campaign on track to be the costliest Maryland Senate race in the last decade.
And that money, reported in their most recent filings with the Federal Election Commission, is likely just part of the funds that will be spent on the race. It is expected to draw heavy funding from outside groups and, in Hogan's case, from affiliated fundraising organizations.
Then-Gov. Larry Hogan (R) and Prince George's County Executive Angela Alsobrooks (D) at an event in 2022. The two are now rivals in a closely watched race for the U.S. Senate. Photo by Bruce DePuyt.
"It's a lot of money, when you put it in the context of Maryland, it's a heck of a lot of money," said Patrick Gonzales, an experienced pollster and data analyst in Maryland.
Alsobrooks, the Prince George's County executive and Democratic Senate nominee, reported raising $5.3 million in the second quarter, bringing her total fundraising to $12.5 million since she announced her bid in spring 2023. She had $3.6 million on hand as of June 30, according to her FEC filing.
Hogan, a two-term Republican governor, raised just under $5.1 million for his campaign account in the second quarter, according to his FEC filing, and has raised $7 million since getting into the race in February. He had $2.7 million in cash on hand as of June 30, his report said.
But the Hogan campaign said the report for the Hogan for Maryland account with the FEC, represents only a part of the money he has raised. When donations from affiliated accounts, the Hogan Victory Fund and the Better Path Forward political action committee, are included, Hogan's total raised is more than $10 million, his campaign claims.
Heavily Democratic Maryland is not typically on the national map in terms of Senate races – voters here last elected a Republican to the Senate in 1980. But Republicans just one seat away from taking control of the Senate and Hogan was elected governor twice here and was highly popular when he stepped down last year. That has made Maryland a target for both national parties.
The race was already one of the most expensive in the country after a Democratic primary in which Rep. David Trone (D-6th) spent $63.4 million – much of it his own money – in an unsuccessful bid to win the nomination. Alsobrooks spent less than $6 million in the primary.
Now, she faces the challenge of raising her name recognition statewide to compete with the former governor.
"He had higher name ID than Angela Alsobrooks and it wasn't her fault that she didn't have name ID outside of the D.C. suburbs," said Paul Ellington, the former executive director of the Maryland Republican Party. "So she's had the task of introducing herself to voters that have no reason to know who she was previously.
"Now she's got to look at the name ID, he didn't, she has to look at fundraising for a general election," he added.
But Damian O'Doherty, a public affairs strategist and former Democratic operative, said Alsobrooks cannot be taken lightly, despite Hogan's name recognition and support from national Republicans.
"The money is key, but in Maryland Larry Hogan is going to have to bring a lot more than (Senate Minority Leader) Mitch McConnell and (Texas Sen.) Ted Cruz's money to take out an A-plus candidate like County Executive Alsobrooks," O'Doherty said.
He said Alsobrooks has always been the underdog. "Every report has been a win for her so far. And in the primary she was losing every report," O'Doherty said.
That was echoed by Connor Lounsbury, a senior adviser for the Alsobrooks campaign.
"She has been the underdog in every race she ran. We are no stranger to being in a tough campaign but this is a woman who campaigns hard and has her priorities straight," Lounsbury said.
Hogan's campaign said the majority of its donations have come from Maryland. But Republican strategist Jim Burton said Hogan can also draw on national Republican support from his tiem as governor.
"He met a lot of donors and businesspeople, so he had a large prospect list and existing donor base to reach out to," Burton said. "I think once he got engaged in this race in terms of running for the Senate, I just have no doubt that there would be more doors opened for donors."
While money important, Gonzales said, it is not likely to be the determining factor as both candidates are vigorously raising and spending funds.
"You don't have to have the most money, but you do have to have enough money. It sounds to me like both Angela and Larry have enough money. So I think ultimately this election is not going to be decided by one candidate having $25 million and the other having $15 million," Gonzales said.
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