Republican Frank Pallotta, running a second time for New Jersey’s 5th congressional district, reported raising just $38,650 in the first quarter of 2022, a continuation of the laggard fundraising that has plagued his rematch campaign.
Pallotta has $83,216 in cash-on-hand, which actually represents a backslide from the $97,801 warchest he reported at the end of 2021.
In total, Pallotta has raised $250,740 since he launched his campaign in April 2021. That’s less than the $406,522 his most prominent opponent in the Republican primary, U.S. Marine veteran Nick De Gregorio, raised in just a single fundraising quarter last year (De Gregorio hasn’t yet posted his most recent report).
It also pales in comparison to the totals posted by Rep. Josh Gottheimer (D-Wyckoff), the Human Fundraising Machine, whom Pallotta is hoping to face once again after losing 53-46% in 2020. Gottheimer reported raising a megalodonic $1.2 million last quarter, and is sitting on a warchest of more than $13 million.
Importantly, Pallotta does have the ability to self-fund; in his 2020 campaign against Gottheimer, the Mahwah investment banker gave his campaign $1.4 million. But Pallotta has not yet put any of his own cash into this year’s race, and it’s not clear if he intends to do so before the June 7 primary.
De Gregorio has the Bergen County line this year, while Pallotta has the line in Passaic County and the support of Sussex County Republicans. A third candidate, Fred Schneiderman, has hinted he will self-fund to a significant extent and is something of a wild card in the primary.
Whoever wins the primary will start out as the underdog against Gottheimer, both because of the sheer amount of money Gottheimer has at his disposal and because of the Democratic lean of the new 5th district; congressional redistricting added more of Bergen County to the district and shifted it around seven points towards Democrats.