Gubernatorial candidates have raised nearly $60 million for next month’s primary election and spent more than $43 million of it, according to campaign finance reports.
The majority of that money has come in the form of public matching funds — state election officials have disbursed nearly $36 million to eight candidates as of Wednesday.
Candidates who participate in the public funds program can receive up to $5.5 million in public matching funds, but are limited to spending $8.7 million on their campaigns, with some exceptions for travel and food costs.
Four candidates have effectively reached their fundraising cap: Jersey City Mayor Steve Fulop, Reps. Mikie Sherrill and Josh Gottheimer, and former Assemblyman Jack Ciattarelli have each raised about $9 million: $5.5 million in matching funds and about $3.5 million from donors.
Of those four, Fulop has been the biggest spender. The Democratic mayor has spent $7,971,969 in funds subject to the spending limit, giving him minimal wiggle room as the primary reaches fever pitch, as Politico NJ reported. His cash on hand as of May 9 was $787,169.
Sherrill, meanwhile, has spent just $3,980,273 on campaigning and had $4,730,135 on hand going into the final month.
Gottheimer has spent $6,931,849 on campaigning and has a tad more than $2 million in the bank.
Ciattarelli, the most prolific fundraiser among the Republicans, has $2,590,570 cash on hand going into the final month. The former legislator has strongly led the polls and earlier this week received an endorsement from President Donald Trump. He’s spent $6,309,792 on campaigning.
Ciattarelli’s top GOP opponent, former radio personality Bill Spadea, has spent $1,884,756 on campaigning. Spadea has raised $1.77 million from donors along with $2,497,990 in matching funds. The conservative, who did not receive the Trump endorsement he was hoping for, had $1,912,339 on hand to spend in the final month.
Spadea, in fact, has been outraised by Republican State Sen. Jon Bramnick, the race’s Trump-skeptic moderate. Bramnick has raised $1.79 million from donors, along with $3.1 million in matching funds.
Former State Sen. Ed Durr, who dropped out of the race on filing day, reported raising $11,774 for his gubernatorial bid. He has $7,913 left in the bank. Mario Kranjac, the former mayor of Englewood Cliffs, has raised just $103,608 in his bid for the Republican nomination for governor, and has just $31,365 cash-on-hand as of last week.
Back to the Democrats, where former State Senate President Steve Sweeney raised $2.84 million from donors and another $4.7 million in matching funds. Sweeney had $2,225,646 on hand going into the final month.
Newark Mayor Ras Baraka had raised $2.27 million from donors, with another $3.5 million in matching funds, or 60% of the cap. The mayor had $666,560 on hand going into the final month.
New Jersey Education Association President Sean Spiller has raised $428k from donors and entered the final month with just $126,102 on hand. He failed to qualify for matching public funds, and his campaign has been largely backed by an NJEA-aligned super PAC.