Michael Bloomberg spends $80m on Democratic midterm candidates as Trump directs $400m to Republicans
Michael Bloomberg will spend $80m to help Democratic candidates in the US midterm elections, US media reported on Tuesday, in a round of michael bloomberg $80m midterms giving made in September and October. The same day, Donald Trump announced he intends to spend $400m to aid Republican candidates, with $300m already disbursed.
Michael Bloomberg spends $80m on Democratic midterm candidates as Trump directs $400m to Republicans
The former New York mayor's contributions, reported on Tuesday, were made in September and October according to the New York Times.
Where the $80m is going
Much of the money is aimed at Democratic midterm candidates contesting the US House of Representatives, a chamber where Republicans hold power on a historically thin edge. Howard Wolfson, Bloomberg's political adviser, framed the objective as a majority comfortably clear of the 218 seats required to run the chamber. The donations include:
- $24m to Everytown for Gun Safety, a group he cofounded that is spending on Democratic candidates in the lower chamber
- $16m to the House Majority Pac, a group tied to Hakeem Jeffries, the top House Democrat
- $2.5m to a Super Pac supporting James Talarico's Senate campaign in Texas, where he is the party's nominee
- Money for a Super Pac behind Kathy Hochul's re-election as New York governor, and for several Democratic gubernatorial candidates
The 218-seat arithmetic
Wolfson argued that a slim majority is not enough for the party's purposes.
"The difference between 221 and 230, in terms of the House majority, really matters"
Pressed on how effective the money would be, Wolfson said Bloomberg "is of the view that resources matter in campaigns" and that the billionaire "expects a result".
Trump's $400m and the fundraising gap
Bloomberg's donations came as Trump announced on Tuesday he intended to spend a total of $400m to aid Republican candidates, with $300m already disbursed. Republicans are also aided by Elon Musk, who has spent $366m on conservative groups and campaigns so far. Democrats believe they are favored to take back the House this year, though they have acknowledged trailing Republicans in fundraising, and believe they have a shot at netting the four seats necessary to retake control of the Senate, though analysts believe it could go either way.
What control would mean
Winning either chamber would hand Democrats the power to stall Trump's legislative agenda and investigate his administration more effectively; a Senate majority would also let them reject his nominees. Bloomberg, 84, served three terms as mayor of New York City from 2002 to 2013. An independent as mayor who later registered as a Democrat, he spent $80m to help the party in the 2018 midterms and ran a well-funded but unsuccessful bid for its presidential nomination in 2020.
