Races shatter donation and spending records
It was clear weeks ago, but now it’s official: Georgia’s two new senators, Jon Ossoff and the Rev. Raphael Warnock, raised more money for their elections than any other congressional candidates in history.
Reports filed Thursday evening with the Federal Election Commission show Ossoff and Warnock raised totals of $162.6 million and $147.1 million, respectively, in their successful bids to oust Republican incumbents David Perdue and Kelly Loeffler. Both figures eclipsed the candidate with the third most contributions, South Carolina Democrat Jaime Harrison who raised an astounding $130.2 million in his defeat to incumbent Republican Sen. Lindsey Graham.
The unprecedented totals reported by the Georgia campaigns were due largely to the fact that both races were thrown into a runoff after no candidate for either seat received a majority of votes following the November general election. Donations poured into the state as it became clear that Democrats could take control of the Senate if they flipped both seats.
Warnock raised 70% of his total donations from mid-October to midDecember, the vast majority of that coming after the Nov. 3 general election. For Ossoff, 66% of his receipts came during the that same period.
The campaigns spent as quick as they raised. Ossoff’s campaign reported a total of $156.8 million spent. Warnock reported $144.3 million in spending for the cycle.
The Republicans raised massive amounts of cash in their own right, as conservatives rallied with their checkbooks in an attempt to “Save the Senate.” Perdue raised just under $103 million in his attempt to gain a second term. Loeffler’s final report shows her campaign raised $92.2 million, including $23 million of her own money that she loaned for the effort.
Combined, the Ossoff-Perdue race raked in $265.5 million in campaign donations, while the Warnock-Loeffler race combined for $239.3 million. That places the Georgia races first and third in the all-time most expensive races, separated by the Graham-Harrison race in South Carolina which clocked in with $239.8 million in donations, according to the non-partisan Center for Responsive Politics.
The mountains of cash may seem like an anomaly, given Georgia’s unique situation. But insanely expensive campaigns were a trend in 2020.
For perspective, the congressional candidates in the top 10 most expensive races in the nation last year raised a total of $1.5 billion in donations. All were for the Senate. Four years ago, the candidates in the top 10 races — again, all for the Senate — raised 75% less than that figure, for a combined $382.8.
In fact, the Ossoff and Perdue campaigns raised more than the top five races in 2016 combined. The campaigns even had some money left over, which matters especially for Warnock, who has to run for his seat again in two years. Warnock’s campaign reported $3.2 million in cash on hand; Ossoff’s campaign has $2.5 million.