Democratic Texas Senate candidate James Talarico announced he raised $64 million in the third quarter of 2026, setting a new record for Senate fundraising during this period, surpassing the previous record of $57 million held by Jaime Harrison. Talarico's campaign has amassed over $134 million since its inception, with 97% of contributions being $100 or less, indicating strong grassroots support.
In contrast, Republican nominee Ken Paxton raised $18 million in the same quarter, but his campaign has been bolstered by over $175 million in outside spending aimed at supporting him or attacking Talarico. Notably, Elon Musk has contributed $10 million to a pro-Paxton super PAC and his PAC has spent nearly $10 million against Talarico.
Despite the historical challenges for Democrats in Texas, Talarico currently leads Paxton in polling averages, which may compel Republicans to allocate more resources to a race they previously considered secure. The upcoming Federal Election Commission filings will provide further insights into the financial health of both campaigns as they approach the election