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Beto O’Rourke raised $80M complete for Ted Cruz problem in Texas

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U.S. Rep. Beto O’Rourke, D-El Paso, in the end raised over $80 million in his unsuccessful bid to unseat U.S. Sen. Ted Cruz, R-Texas — and he left little in his marketing campaign coffers when it was all accomplished.

That is in keeping with a post-election submitting Thursday with the Federal Election Fee that covers Oct. 18 via Nov. 26, or in regards to the three weeks earlier than the election and three weeks after it. The report exhibits O’Rourke raised $10.1 million in the course of the interval, spent $20 million and left $477,000 within the financial institution, a comparatively small stability for what had change into an eight-figure operation.

The $10.1 million haul introduced O’Rourke’s complete raised for the election to $80.5 million — one other staggering determine in a marketing campaign filled with them. Cruz’s closing tally was roughly half that.

On his newest submitting, the incumbent’s marketing campaign reported elevating $5 million, spending $11.5 million and having $263,000 left over. He additionally disclosed getting $260,000 in loans the day earlier than the election and incurring an extra $100,000 in debt.

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O’Rourke’s low cash-on-hand determine is notable. After he raised an astonishing $38 million within the third quarter of this 12 months, he confronted some scrutiny concerning whether or not he would be capable to spend the extent of cash he was raking in — and whether or not it will be higher utilized in extra winnable races. Not solely did O’Rourke depart little within the financial institution, he additionally completed nearer than anticipated, dropping to Cruz by 2.5 proportion factors.

Cruz’s $263,000 cash-on-hand determine is supplemented by $1.9 million he has stowed away in two affiliated teams.

In any case, the race is one for the historical past books. Even earlier than Election Day, O’Rourke’s torrid fundraising tempo had pushed the full raised between the 2 candidates into nine-figure territory.

There was additionally hundreds of thousands of {dollars} in exterior spending, a lot of it on Cruz’s behalf. O’Rourke did obtain last-minute assist from a secretive tremendous PAC, Texas Perpetually, that was revealed Thursday to have been primarily funded by a serious nationwide Democratic group.

O’Rourke promised to not take PAC cash all through the competition, and his most up-to-date report exhibits he caught to his phrase via the tip. Whereas he additionally informed teams like Texas Perpetually to remain out, candidates don’t have any formal management over the actions of tremendous PACs, which might increase and spend limitless quantities of cash so long as they don’t coordinate with campaigns.

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