Hochul again puts up impressive fundraising numbers

About two years out from her next election, Gov. Kathy Hochul continues her prolific fundraising as she prepares for 2026. In the first half of 2024, she raised $5.9 million for her reelection, ending the period with over $13.5 million on hand. With the latest numbers, Hochul has so far raised a total of $16.8 million since the start of 2023, when she began her first full term as governor.

Hochul’s fundraising haul is comparable to what former Gov. Andrew Cuomo raised during the same period in his first term. He raised over $5.7 million during the first half of 2012 and about $4 million in the first half of 2016, when he was over a year into his second term.

Her impressive fundraising numbers put Hochul in an early position to financially dominate anyone who dares challenge her in two years’ time. No other candidates have actually announced yet, but a few names have floated around in the ether as possible contenders. There is, of course, Hochul’s immediate predecessor. Cuomo has quietly made noise for years about launching a political comeback following his resignation in 2021. According to his latest campaign filings, Cuomo paid Expedition Strategies nearly $70,000 to conduct polling back in January. Although some reporting has suggested that he’s eyeing a run for New York City mayor, an attempted return to the executive mansion is also possible. 

Cuomo had an impressive war chest from his nearly three terms in office and stepped down with a considerable amount of cash. He has burned through a large chunk of it since then, particularly on legal costs related to lawsuits related to sexual harassment allegations that he denies. But as of July, he still had almost $8 million in his campaign account. Still, he hasn’t engaged in much fundraising recently. Cuomo only recorded $5,300 in contributions for the first half of 2024.

Lt. Gov. Antonio Delgado sparked rumors about his own ambitions recently when he called on President Joe Biden to drop out, publicly splitting with Hochul, one of the president’s most ardent supporters. Delgado also raised eyebrows when he launched his own leadership PAC aimed at helping swing district congressional candidates in New York, a move that could help raise his profile beyond lieutenant governor. But his 2024 fundraising so far doesn’t reflect a potential run for governor. Delgado recorded just $48,000 in contributions for the year as of July, ending the period with under $246,000 on hand. It certainly does not compare to Hochul’s fundraising, leaving an incredible gap to fill if he actually wanted to run against the sitting governor in 2026. 

Attorney General Letitia James originally weighed a run for governor in 2022 but ultimately decided to seek reelection before her campaign ever really got off the ground. She hasn’t given any indication that she’ll give it another shot, though she could make a formidable opponent if she chose to run for governor again in 2026. James brought in about $640,000 in the first half of 2024, leaving her with $889,000 on hand as of July. It’s not nothing, and it is considerably more than the $43,000 she raised during the same period in 2020, but is still a far cry from Hochul’s numbers.

Republican Nassau County Executive Bruce Blakeman, who was elected to his position in 2021, also recorded a fair amount of donations, amid rumors that he’s positioning himself for something new. In fact, he raised more money and has more cash on hand now than he did for the same period in the year that he actually ran for office. In the first half of 2024, Blakeman raised nearly $641,000 and had over $1 million on hand as of July. He raised $576,00 in the same period in 2021 after launching his campaign in March of that year. The current amount of money in his committee is the most it has ever recorded on hand at the end of a filing period as well. Of course, Blakeman has his own reelection to contend with next year – a full year before the 2026 gubernatorial race – so much of the money he raised would go towards that first. But he’s taken steps to raise his profile, such as through controversial local policies on transgender athletes and establishing a citizen militia of sorts.

Hochul’s campaign said that she also raised $1.4 million for the state Democratic Party in the first six months of the year, bringing the total amount she has raised both for herself and the party she leads to $22 million. The governor is also working with House Majority Leader Hakeem Jeffries and U.S. Sen. Kirsten Gillibrand on a coordinated effort to flip congressional seats in New York and win back the House. 

“As leader of the New York State Democratic Party, Governor Hochul is making unprecedented investments in the Party with a focus on flipping the House in 2024 and building an operation that will support Democrats for years to come,” Hochul campaign spokesperson Jen Goodman said in a statement. “This latest fundraising haul underscores the Governor's widespread support from New Yorkers who are committed to advancing Governor Hochul’s vision and electing Democrats up and down the ballot in 2024 and beyond.”