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US Midterms 2026
24SEP

40 Days to Go: Republicans spend first, Democrats hold cash

4 min read
11:45UTC

The Democratic Senate committee ended August with $37.6m in cash to the Republicans' $18.7m, after trailing by $16.3m on 1 August. The reason: the NRSC spent $45.9m coordinating with its candidates in the month. Trump's new super PAC widened to 49 races, and a federal appeals court ordered Missouri back onto its 2025 map days after overseas ballots went out on the old one.

Key takeaway

The NRSC spent early and heavily on Senate races the raters have since split on, moving for and against Republicans.

This briefing mapped
Economic
Competitive
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Domestic

The NRSC spent $45.92m coordinating with Senate candidates in August and ended the month with $18.7m in cash, against the DSCC's $37.6m.

Sources profile:This story draws on neutral-leaning sources

The super PAC tied to MAGA Inc reported $29.2m of new spending across 49 federal races between 16 and 22 September, more than doubling its total.

Sources profile:This story draws on neutral-leaning sources from United States
United States

The political action committee (PAC) No Going Back reported spending $29.2m across 49 congressional races. That is between 16 and 22 September, more than double its own $21m tally from ten days earlier.

Federal law forces groups like this to report large spends within 48 hours. It does not require them to name donors until a later filing. 

Sabato's Crystal Ball moved Michigan's Senate race to Leans Democratic on 22 September, citing a Suffolk poll with Abdul El-Sayed ahead of Mike Rogers 47-40.

Sources profile:This story draws on neutral-leaning sources

Sabato's Crystal Ball moved Michigan's Senate race from Toss-up to Leans Democratic. It cited a Suffolk poll that gave Abdul El-Sayed a 47-40 lead over Mike Rogers.

El-Sayed has led by similar margins in the Democratic primary since the summer. The shift looks like a settling of an already stable race, not a late swing. 

Texas PAC's latest FEC notice puts its Senate spending at $69.32m: $36.75m for Ken Paxton and $32.57m against James Talarico.

Sources profile:This story draws on neutral-leaning sources from United States
United States

TEXAS PAC, a political action committee (PAC), filed its latest 48-hour notice putting total spending in the Texas Senate race at $69.32m as of 21 September. That splits between $36.75m for Ken Paxton and $32.57m against James Talarico.

The group has not named a single donor. It does not have to until its next Federal Election Commission (FEC) report is due on 15 October. 

Sabato moved Iowa's open Senate seat to Toss-up as Marist put Democrat Josh Turek ahead of Ashley Hinson 50-42, the first poll to show him leading.

Sources profile:This story draws on neutral-leaning sources

Sabato's Crystal Ball moved Iowa's Senate race from Leans Republican to Toss-up on 22 September. A Marist Poll put Josh Turek ahead of Ashley Hinson 50-42 that same day.

It was the first poll all year to show the Democrat leading. Cook had rated the race Republican-favoured since June. 

The NRCC coordinated $7.68m with House candidates in August, the DCCC $4.09m, and the Republican committee still ended the month ahead on cash, $89.1m to $75.9m.

Sources profile:This story draws on neutral-leaning sources

Cook moved Georgia's Senate race to Likely Democrat as a YouGov poll put Jon Ossoff ahead of Mike Collins 51-41, while the governor's race sits at 45-44.

Sources profile:This story draws on neutral-leaning sources

Elon Musk's America PAC filed $1.43m of direct mail on 22 September, dated for delivery through 16 October, with Michigan and Ohio taking the largest shares.

Sources profile:This story draws on neutral-leaning sources

America PAC, a political action committee (PAC) Elon Musk funded heavily in 2024, filed to spend just over $1.4m on direct mail. Most of the money is aimed at Michigan and Ohio.

The mail is due to land in postboxes between 22 September and 16 October. Both states have close Senate races this year. 

Cook shifted New Hampshire's Senate race from Lean Democrat to Toss Up on 15 September, calling Republican spending there a flashing red light for Democrats.

Sources profile:This story draws on neutral-leaning sources

The 8th Circuit ordered Missouri onto its 2025 congressional map three days after the state mailed overseas ballots on the 2022 lines; the Supreme Court has until 28 September.

Sources profile:This story draws on neutral-leaning sources

Sabato and Cook moved Kansas and South Carolina's Senate races, four governor's races and two more House seats towards Democrats between 22 and 23 September.

Sources profile:This story draws on neutral-leaning sources

Sabato's Crystal Ball and Cook Political Report moved a wide batch of races toward Democrats. These include Senate contests in Kansas and South Carolina, governor's races in four states, and three House seats.

Ratings moving together like this usually track a national mood shift, such as a generic congressional ballot average, rather than news from any single state. 

The NAACP and eight other groups sued in Washington on 18 September to keep ICE away from polling places, the day NPR published a DHS email listing non-English voting areas.

Sources profile:This story draws on centre-left-leaning sources from United States
United States
Sources:NPR
1 NPR2 NPR

Harmeet Dhillon said the Justice Department will send about 1,000 election monitors in November; a day later a Seattle judge threw out its suit for Washington's voter rolls.

Sources profile:This story draws on neutral-leaning sources

Virginia, Minnesota, South Dakota and Idaho opened in-person early voting on 18 September, as Michigan and Wisconsin sent out postal ballots and Florida logged its first overseas returns.

Sources profile:This story draws on neutral-leaning sources from United States
United States

Early voting for November's election began on 18 September in Virginia, Minnesota, South Dakota and Idaho. Michigan started mailing ballots the next day.

Wisconsin clerks had to get absentee ballots into the post by 17 September. That was a week before the other states' voting even opened. 

Montgomery County, Maryland, said voter guides for 11 precincts listed the wrong polling places and party details; replacements go out next week.

Sources profile:This story draws on neutral-leaning sources

Montgomery County in Maryland said on 22 September that voter guides sent to 11 precincts had errors. They listed the wrong polling place and party details.

The county said it would mail replacement guides to the same 11 precincts. Those go out the following week, with the correct polling place and party information. 

Closing comments

Sideways, pending two dated triggers. Missouri: if the Supreme Court has not acted on application 26A388 by 5pm CDT on 28 September, the 8th Circuit's stay lapses and the 2025 map governs a state that already mailed overseas ballots under the 2022 lines, forcing a decision on reissuing ballots inside a closed 45-day UOCAVA window. Money: the 20 October FEC Monthly will show whether the DSCC starts spending its $37.6m cash advantage or keeps banking it for the campaign's final two weeks, the choice that determines whether the current cash gap becomes an ad-spend gap.

Different Perspectives
Republican Senate strategists
Republican Senate strategists
Strategists defending the NRSC's pace argue front-loaded spending buys cheaper autumn airtime and that outside groups such as No Going Back PAC can cover the committee's thinner cash. The NRSC coordinated $45.92m with candidates in August against the DSCC's $1.00m, leaving it $18.7m for the final six weeks.
Democratic Senate strategists
Democratic Senate strategists
Strategists note the DSCC held a $37.6m cash lead over the NRSC's $18.7m at the end of August, after coordinating just $1.00m of spending itself. One reading holds the committee is banking that cash for the campaign's final weeks rather than matching Republican spending dollar-for-dollar in August.
Cook Political Report
Cook Political Report
Cook wrote that "the amount of money national Republicans have dedicated to this race is a flashing red light for Democrats" when it moved New Hampshire from Lean Democrat to Toss Up on 15 September, citing the NRSC's $5.18m for Sununu. It is the one state where Republican spending and the rating move the same direction.
National Association for the Advancement of Colored People and co-plaintiffs
National Association for the Advancement of Colored People and co-plaintiffs
The NAACP and eight other groups sued DHS in Washington on 18 September to keep ICE away from polling places, citing federal statutes barring armed officers and troops at elections. The suit follows a released 2025 DHS email listing non-English-language voting jurisdictions beside a Justice Department prosecution checklist.
Harmeet Dhillon, Justice Department
Harmeet Dhillon, Justice Department
Dhillon said the department will send about 1,000 election monitors to Nevada, Pennsylvania and Rhode Island in November, calling it "the biggest DOJ election observer effort in history" and citing "67 election-related indictments and convictions" against 13 under the Biden administration.
Richard von Glahn and People Not Politicians
Richard von Glahn and People Not Politicians
Von Glahn and People Not Politicians filed emergency application 26A388 on 22 September asking Justice Kavanaugh to pause the 8th Circuit's order restoring the 2025 map, days after Missouri mailed overseas ballots under the 2022 lines. A refusal to pause it would leave those ballots carrying the wrong districts.