13-05-2025
Most gubernatorial candidates spending heavily as primary nears
Many of the gubernatorial candidates in the June 10 primary have millions left in reserves as the race nears its end. (Illustration by Alex Cochran for New Jersey Monitor)
Some of this year's gubernatorial candidates are draining their reserves as the primary enters its final weeks, though one Democratic candidate has kept much of her money banked as the race winds to a close.
At $4.7 million, Rep. Mikie Sherrill (D-11) maintained the largest war chest 29 days out from the June 10 primary, according to a disclosure filed with the New Jersey Law Enforcement Commission that was released on Monday. Sherrill, the Democratic frontrunner in the limited public polling of the race, reported raising just under $9.2 million through May 9.
Micah Rasmussen, director of Rider University's Rebovich Institute for New Jersey Politics, noted that 150,000 Democrats have already voted via mail-in ballots as of Tuesday.
'That means voters who are making those decisions have made those decisions largely absent her paid messaging,' Rasmussen said.
As primary for governor's race nears, candidates share details of their finances
Some of Sherill's rivals have spent more heavily.
Jersey City Mayor Steve Fulop, a Democrat, ended the reporting period that closed May 9 with $787,169 in reserves after spending down most of the nearly $9 million he's raised. The high rate of expenditure means Fulop can spend only about $500,000 in the race's closing weeks.
'The main question at this point for him is, does he have enough to get across the finish line, and there we have to know more about how much of this spending is for ads that are still yet to come,' Rasmussen said.
Rep. Josh Gottheimer (D-05) had just over $2 million banked on May 9 out of the roughly $9.1 million Gottheimer has raised so far, his campaign filings show.
On the Republican side, where five men are vying for the party's nod for governor, former Assemblyman Jack Ciattarelli ended the reporting period with roughly $2.6 million banked after raising about $9.1 million total.
Former radio host Bill Spadea, Ciattarelli's chief rival for the GOP nomination, had about $1.9 million banked on May 9, though he's raised less than $4.2 million throughout the race.
State Sen. Jon Bramnick (R-Union) had $895,134 in reserves on May 9, of the just under $5 million he's raised.
'Ciattarelli is dominating organizationally, he's dominating financially, and he's dominating in terms of the all-important endorsement from Trump,' Rasmussen said. 'He's not leaving any opportunity for a challenger to get ahead of him.'
In New Jersey, candidates for governor who meet spending and fundraising thresholds can receive up to $5.5 million in public matching dollars for the primary at a rate of 2-to-1 in exchange for agreeing to spend no more than $8.7 million chasing the nomination. Ciattarelli, Fulop, Gottheimer, and Sherrill have received the full match of $5.5 million.
Former state Sen. Steve Sweeney, a Democrat, finished the reporting period with about $2.2 million banked. He raised just under $7.6 million through May 9.
Newark Mayor Ras Baraka, a Democrat, reported the smallest war chest among candidates who have qualified for public matching funds. He had $666,561 in reserves on May 9 and raised about $5.4 million through that date.
It's not clear whether Baraka's arrest by federal immigration authorities last week boosted his fundraising. He received 18 contributions totaling $10,177 on May 9, the date of the arrest and the final day of the reporting period. Baraka reported receiving three times as many contributions on May 9 as on May 8, though that day's six contributions amounted to $12,460.
Baraka's campaign used his arrest as the focus of a fundraising plea last week while he was still in federal custody.
Rasmussen said he expects the arrest to boost the Baraka campaign's finances.
'Late money is better than no money,' he said. 'But the problem with late money — the problem with it coming in at the end — is: Can you spend it wisely enough and fast enough?'
Sean Spiller, the only Democratic gubernatorial hopeful who did not qualify for public matching funds, finished the reporting period with a paltry $97,389 banked after raising $431,478 throughout the cycle.
Spiller is relying on Working New Jersey, an independent expenditure committee that told state campaign regulators it intends to spend $35 million on the primary. It's not clear how much the group has spent. It's not required to report its spending until May 30.
Former Englewood Cliffs Mayor Mario Kranjac and Burlington County contractor Justin Barbera, both Republicans, have not filed any quarterly or 29-day disclosures with the state election commission.
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