Home>Articles>With campaign finished, Gottheimer still has $8.4 million banked
Rep. Josh Gottheimer
Rep. Josh Gottheimer. (D-Wyckoff). (Photo: Kevin Sanders for the New Jersey Globe)

With campaign finished, Gottheimer still has $8.4 million banked

By Nikita Biryukov, December 04 2020 3:45 pm

Campaign finance reports filed with the Federal Election Commission show Republican House challenger Frank Pallotta outraising Rep. Josh Gottheimer (D-Wyckoff) between Oct. 15 and Nov. 23, but those figures don’t tell the whole story.

The incumbent reported receiving $633,904 during that time period, while the challenger got $853,449. The bulk of Pallotta’s haul, however, wasn’t new money. After the election ended, he converted $730,000 of the more than $1.4 million he loaned his campaign into a contribution.

With that excluded, the Republican raised just $123,449 — less than a fifth of Gottheimer’s haul.

The challenger’s spending was similarly bloated by the conversion. He reported spending more than $1.2 million in the roughly five-week period, but that number drops to $495,125 when the $730,000 conversion and a $20,000 loan repayment are excluded.

The new figures bring Pallotta’s spending total to just over $2 million, though that figure drops to about $1.1 million with loan repayments and conversions excluded.

They bring his fundraising for the cycle to about $2.3 million, or $1.3 million with loan conversions excluded.

Gottheimer, meanwhile, raised $7.7 million over the cycle. He spent $598,352 between Oct. 15 and Nov. 23, bringing his total spend to about $3.4 million.

He still has $8.4 million in his war chest. Pallotta finished the race with $140,506 banked.

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