WASHINGTON — President Donald Trump announced Tuesday that he plans to spend more than $400 million to help Republican candidates in the upcoming midterm elections, just as former New York City Mayor Michael Bloomberg injected $80 million into the Democratic campaign effort to reclaim Congress.
The dueling financial moves arrive during the final push before the Nov. 3 elections, as both parties battle over narrow majorities on Capitol Hill. In a post on Truth Social on Tuesday, Trump said that more than $300 million has already been spent on “Advertising, Direct and Indirect Voter Contact, Rallies, Rally Arenas, Telerallies, Get Out the Vote Programs, Election Integrity, and more.”
Trump did not clarify how much went strictly to media buys or whether the money originated from his personal wealth or his primary super PAC, MAGA Inc. The total spending figures have not been independently confirmed.
Bloomberg targets the House majority
Trump’s announcement came shortly after The New York Times reported that Bloomberg, 84, spent $80 million across September and October to aid Democratic hopefuls. The former mayor’s contributions are heavily concentrated on winning back the U.S. House of Representatives, where Republicans maintain a slim majority.
Howard Wolfson, a political adviser to Bloomberg, told the Times that the funding is aimed at building a sustainable margin beyond the 218 seats needed to govern. “The difference between 221 and 230, in terms of the House majority, really matters,” Wolfson said, noting that Bloomberg “is of the view that resources matter in campaigns” and “expects a result.”
Wolfson added that Bloomberg, an avowed centrist, is avoiding giving to democratic socialist candidates due to concerns over progressive policy stances, particularly regarding Israel. Bloomberg’s spending directs at least $50 million toward House contests, including $24 million to Everytown for Gun Safety and $16 million to the House Majority PAC aligned with House Minority Leader Hakeem Jeffries.
Beyond House races, Bloomberg has steered $2.5 million to a super PAC supporting Texas Senate candidate James Talarico, while also backing the reelection campaign of Pennsylvania Gov. Josh Shapiro and New York Gov. Kathy Hochul, according to reports.
Airwaves inundated in final stretch
The billionaire cash flood adds to historic advertising totals across the country. Since Sept. 1, Republicans have spent or reserved approximately $2.2 billion across federal, state and local races, compared to $1.8 billion by Democrats, according to the Associated Press. Independent organizations have contributed more than $1.2 billion in competitive congressional districts alone, according to a Washington Post review of AdImpact data, financing the majority of political spots in over 70 percent of those contests.
Republicans also benefit from deep pockets such as Elon Musk, who has contributed $366 million to conservative organizations and political efforts so far this cycle, The Guardian reported.
The latest spending blitz follows a dispute over taxpayer-funded television spots featuring the president that aired on Fox News, CNN and MS NOW as part of a $2.87 million campaign, TheWrap reported. Facing bipartisan backlash, Trump said on Oct. 5 that he would pay for the commercials himself or through his political action committee.
With Democrats seeking to pick up four seats to regain the Senate and looking to flip the House, high-dollar donors are treating the final two weeks of campaigning as decisive for determining whether Trump will face divided government next year.
