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Just dropped · Trial Balloon · Ep. 194

What Just Happened?

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Trial Balloon · Ep. 194: What Just Happened?

Fetterman and McCormick Form Joint Fundraising Panel

July 9, 2026 · 5:47 pm ET · Leave a Comment

“Sens. John Fetterman (D) and Dave McCormick (R) of Pennsylvania have set up a joint fundraising committee, according to a Federal Election Commission filing, a rare move for lawmakers from opposing political parties,” the Washington Post reports.

”With joint fundraising committees, two or more candidates, party committees or PACs can raise money together, and donors can write a single big check rather than several smaller ones. Presidential candidates have historically used joint fundraising committees to bulk up their war chests ahead of general elections. It’s unusual for the participants to be affiliated with different political parties.”

Campaign Finance

GOP Senate Candidates Launch Own Super PACs

July 2, 2026 · 5:20 am ET · Leave a Comment

New York Times: “For the first time, most Republican nominees in battleground states are drawing support from their own well-funded super PACs. The little-noticed shift allows them to raise more money, adding to the party’s advantage in super PAC cash over Democrats. That edge could prove important in the midterms, even if the Supreme Court’s major recent campaign-finance decision shakes up how much candidates rely on super PACs.”

“The move could also make Republican candidates less reliant on the Senate Leadership Fund. There is often drama each fall when the group makes difficult decisions about which states to prioritize — or abandon.”

Campaign Finance

Karoline Leavitt’s Old Campaign Remains Awash in Red Ink

July 1, 2026 · 1:32 pm ET · Leave a Comment

“Karoline Leavitt can’t seem to shake her old campaign debt,” NOTUS reports.

“The White House press secretary’s 2022 congressional campaign still owes creditors more than $326,000, according to its most recent financial report, filed Wednesday with the Federal Election Commission.”

“Most of that debt — more than $210,000 — is attributable to unpaid refunds to donors who made excessive contributions to Leavitt’s campaign, in violation of federal limits.”

Campaign Finance

GOP Gets New Midterm Spending Weapon

June 30, 2026 · 7:08 pm ET · Leave a Comment

“The Senate GOP campaign arm won a major Supreme Court boost in the party’s bid to hold congressional majorities on Tuesday,” Axios reports.

“Republicans’ reliance on mega-donors and their cash-flush committees positions them to benefit more than Democrats from the ruling, which allows committees to spend unlimited sums in coordination with candidates as they push against headwinds in November.”

“GOP officials reacted with glee to the Tuesday ruling, deriding Democrats who have criticized the decision for giving more power to the wealthiest donors.”

Bloomberg: Supreme Court opens midterm ad floodgates, giving GOP an edge.

Campaign Finance

Why the Supreme Court Decision Benefits the GOP More

June 30, 2026 · 1:57 pm ET · Leave a Comment

Bloomberg: “Party committees like the National Republican Senatorial Committee, the plaintiff in the case, can now spend unlimited sums on advertising in cooperation with campaigns after the court tossed out limits that were set as low as $130,600 for some Senate races.”

“The GOP will benefit more, at least in the current cycle. The Republican National Committee, the NRSC and the National Republican Congressional Committee, which focuses on House races, had $256 million in the bank at the end of May, twice as much as their Democratic counterparts. The party that holds the White House generally has an edge when it comes to raising money — though it also tends to lose seats in Congress in the midterms.”

“And political parties can now stretch their dollars further, because the ruling means both sides can buy the time at the same bargain-basement prices that stations are required to offer to candidates.”

2026 Campaign, Campaign Finance

The Supreme Court Gave the GOP a New Midterm Edge

June 30, 2026 · 1:00 pm ET · Leave a Comment

“Just days before the 2022 midterm elections, as Democratic candidates were drastically outspending JD Vance and other Republicans running for the Senate, the future vice president and the Senate G.O.P. campaign arm filed a lawsuit to try to change the rules of the game,” the New York Times reports.

“They knew it was too late to affect that year’s elections. The lawsuit was part of a longer-term gambit to tilt the financial playing field in future elections in the Republican Party’s favor. The goal was to unshackle political parties from existing limits on what they could spend in coordination with the candidates they were supporting.”

“The plan paid off on Tuesday, when the Supreme Court rolled back decades-old restrictions on political party spending, further expanding the power of big money in American politics.”

CNBC: Supreme Court strikes down limits on political parties’ campaign spending, in win for GOP.

2026 Campaign, Campaign Finance

Gallego Under Investigation for Campaign Spending

June 29, 2026 · 3:22 pm ET · Leave a Comment

“Sen. Ruben Gallego (D-AZ) is under federal investigation for suspected campaign finance violations,” Axios reports.

“The investigation could cast a shadow over Gallego’s political future as the freshman senator eyes a potential 2028 run for president.”

2026 Campaign, Campaign Finance

Larry Ellison Bought His Way Into into Trump’s Circle

June 24, 2026 · 8:01 am ET · Leave a Comment

“Larry Ellison didn’t join the gaggle of CEOs that traveled with President Trump on his state visit to China. He wasn’t among the guests at a White House dinner Trump hosted with tech titans. He also skipped the UFC event on Trump’s 80th birthday,” the Wall Street Journal reports.

“The Oracle billionaire didn’t need to be at these public events. Ellison, 81, has developed a more-private friendship with Trump that has helped his tech company’s business as well as his son’s effort to assemble a media conglomerate. Key to the relationship: Ellison’s money.”

“Ellison gave roughly $45 million to a political nonprofit group supporting Trump’s election efforts in 2024, according to people familiar with the fundraising. Such funding isn’t subject to disclosure rules and hasn’t been previously reported.”

Campaign Finance

Outside Groups Hide Their Sources of Funding

June 14, 2026 · 4:20 pm ET · Leave a Comment

Politico: “A record number of groups are exploiting a gap in campaign finance law to flood this year’s primary elections with money — without disclosing their donors until long after the race is over.”

“More than $48 million has already been spent on House and Senate primaries this year by super PACs that did not have to reveal their donors before elections took place… That is more than double the total at this time in the 2024 cycle, and 10 times higher than in 2018.”

Campaign Finance

Devin Nunes and the Mystery of His $14 Million War Chest

June 12, 2026 · 12:52 pm ET · Leave a Comment

NOTUS: “Federal regulators have probed why former Rep. Devin Nunes — until recently CEO of Trump Media — has a whopping $14.5 million in campaign funds despite not running for office since 2020.”

“The Federal Election Commission reached out in April to Nunes’ mom, Toni Dian Nunes, who is also his campaign committee’s treasurer, for answers about her son’s stockpile. The amount is extraordinary for someone who is not a candidate or lawmaker and is rivaled by only a few in the House. Rep. Alexandria Ocasio-Cortez, one of Congress’ top fundraisers, reported on Thursday that her campaign has $15.9 million on hand.”

Campaign Finance

The Least Successful Self-Funder in History

June 11, 2026 · 7:12 am ET · Leave a Comment

Tom Steyer became the least successful self-funding candidate in modern U.S. political history this week, David Weigel observes.

Rob Pyers: “Between his run for the Democratic nomination for President of the United States and his 2026 run for California governor, Tom Steyer will have spent $557,781,638 for 0 delegates and a 3rd-place primary finish, respectively.”

Campaign Finance, Political History

Al Franken Has a Plan for His $1.4 Million Stash

June 9, 2026 · 2:53 am ET · Leave a Comment

NOTUS: “Democrat Al Franken is sitting on a small political fortune — and he’s preparing to use it.”

“Franken, who federal records indicate has more than $1.4 million in leftover cash sitting in his old U.S. Senate campaign account, is ‘likely to convert’ that committee into a political action committee ‘in the near future,’ Al Franken for Senate Treasurer Thomas Borman wrote in a letter to federal regulators this week.”

Campaign Finance

Who Is Cutting $1 Million Checks to MAGA Inc?

June 5, 2026 · 2:21 am ET · Leave a Comment

CNN: “The evidence is circumstantial, but the list is long. Supporters who have business with the federal government clearly see utility in contributing large amounts to President Donald Trump’s super PAC, MAGA Inc.”

“At least four of the five $1 million-plus donors to MAGA Inc. also have federal contracts or policy they’re trying to influence with the Trump administration, according to the most recent legally required monthly donor disclosure filing with the Federal Election Commission. But there are numerous other donors to MAGA Inc., which has raised more than $340 million, seeking to influence the administration during Trump’s second term.”

Campaign Finance

Mystery Money Is Displacing Actual Campaigns

June 2, 2026 · 6:59 am ET · Leave a Comment

NOTUS: “To a degree without modern precedent, the Democratic Party’s House and Senate primaries are being inundated with spending from outside groups, which has frustrated Democratic voters and had a major effect on the outcome of some races.”

“In nearly every case, the funding source for the ads is unknown, and in many cases, an ad’s subject matter appears deliberately misaligned with a group’s actual goals.”

“The overall effect is such that these groups — backed by wealthy special interests, Democratic leaders or even Republican officials trying to affect their opponents’ races — have displaced campaigns themselves as the most influential entities in the campaign.”

2026 Campaign, Campaign Finance

Departing Lawmakers Lean on Lobbyists for Cash

May 27, 2026 · 3:48 pm ET · Leave a Comment

Bloomberg: “Lawmakers who aren’t running for reelection can’t raise money for campaign committees, but they’re allowed to solicit cash for leadership PACs, separate funds for doling out to colleagues and party committees.”

“But there’s a catch: If they have any leftover money, they can take it with them. Leadership PAC funds have few restrictions for ex-lawmakers, campaign finance lawyers say.”

“Lobbyists and corporations sometimes balk at giving out money—or do so begrudgingly—to departing members, who could become competitors on K Street within months. But donations can offer valuable time with someone still in office.”

Campaign Finance, Lobbyists

Inside the Burst of Secret Super PACs

May 26, 2026 · 6:07 am ET · Leave a Comment

Punchbowl News: “Something strange is happening in several crucial House Democratic primaries.”

“Mysterious super PACs are quietly emerging and spending heavily to boost candidates whom many top Democrats view as less formidable, or even toxic, in general elections. Three of these stealthy groups spent a collective $4.3 million so far in five primaries in Nebraska, Pennsylvania, California, Texas and New Jersey.”

“The source of these groups’ funding is obscured. That’s somewhat common in the post-Citizens United era of dark money. But what’s truly baffling is that it’s nearly impossible to tell who is behind these super PACs. And their operators are becoming incredibly skilled at covering their tracks.”

Campaign Finance, Dirty Tricks

GOP Lawmaker Claimed 32,350 Miles of Campaign Driving

May 21, 2026 · 8:43 am ET · Leave a Comment

If Rep. Tom Barrett’s (R-MI) mileage reimbursements are accurate, the Michigan Republican drove enough campaign-related miles to circle the Earth once with about 7,000 miles left to spare, the Detroit Metro Times reports.

Campaign Finance

Political Money Is Flowing to Influencers

May 16, 2026 · 7:29 am ET · Leave a Comment

The New York Times provides “a rare glimpse into the world of pay-for-play social media, where content creators and marketing firms are increasingly compensated to promote candidates or points of view and where there are few requirements for disclosure.”

“The paid advocacy exists outside the realm of traditional lobbying and campaigning, reaching younger, more online audiences unlikely to be swayed by television advertisements or glossy mailers.”

Campaign Finance

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Taegan Goddard

Taegan Goddard

Taegan Goddard is the founder of Political Wire -- which for more than two decades has been one of the nation's most influential political news sites.

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