New Jersey Governor Race Sees Record Spending

The race for governor in New Jersey is proving to be an expensive affair, with spending already surpassing $72 million. This figure is on track to break previous records in the state, and there’s still a month to go before the election.

Republican candidate Jack Ciattarelli is gaining momentum among voters, prompting nervous Democrats to raise substantial amounts through super PACs and independent donations for Representative Mikie Sherrill’s campaign. They’re working hard to fend off a potential shift in the traditionally Democratic-leaning state, especially as they aim to prevent a Republican surge that could lead to a million registered GOP voters.

Experts predict the total cost of the race could soar to over $250 million by Election Day on November 4. This amounts to a significant increase compared to the state record of $145 million set in this year’s gubernatorial primary, where Ciattarelli, Sherrill, and others vied for the seat currently held by incumbent Democrat Phil Murphy.

Ciattarelli, a former state legislator from Hunterdon County, recently announced that his campaign raised $6.4 million in the general election. Interestingly, over $1 million of that came in after his performance in the September 21 debate with Sherrill, which he was viewed as having won. This surge came on the heels of a scandal surrounding Sherrill, who faced scrutiny for being banned in connection with a fraud case back in 1994.

“Jack is ahead of Miki in the race, which is notable given that it’s uncommon for a Republican to achieve this in New Jersey,” noted Alex Wilkes, a seasoned GOP strategist in the state. “She is a sitting lawmaker!”

Sherrill, responding to the changing political landscape, pointed out how New Jersey’s dynamics are shifting. “We’re starting to be seen as a purple state,” she remarked, referencing the last presidential election, where President Trump lost to Biden by only six points, despite minimal investment in the state.

Just a few days after the debate, Sherrill declared that her campaign donations exceeded the threshold by over $1 million, reportedly reaching $7.35 million.

Both candidates have opted to accept public matching funds capped at $18.5 million, although any extra funds raised may be earmarked for legal expenses and other election-related costs. Despite this, Sherrill appears to have a significant advantage, bolstered by external support.

The Democratic Governors Association has allocated over $20 million for television, digital, and streaming ads promoting her campaign. Additionally, the Democratic National Committee is contributing another $3 million.

In contrast, two super PACs backing Ciattarelli’s candidacy have pledged a combined total of $11 million for the upcoming general election, including $7.3 million from the Republican Governor’s Association and $3.7 million from another group.

As it stands, at least $72.3 million is set to be spent on this election cycle, encompassing both campaign contributions and external financing.

This total is already significantly higher than the $60.5 million recorded during the 2021 general election when Phil Murphy narrowly defeated Ciattarelli. Earlier that year, approximately $90.7 million was spent in the primary round, according to the New Jersey Election Law Enforcement Commission.

Despite Ciattarelli’s external support remaining less than that of Sherrill’s, it has more than doubled from the $4.6 million he received from PACs in 2021. “We’ve got a real chance to win,” remarked Carlos Cruz, a spokesperson for Change in NJ.

Sherrill’s campaign, however, did not respond to an inquiry about this. Kate Gibbs, executive director of the New Jersey Republican State Committee, expressed optimism about the race, indicating a strong chance of flipping the state to red. “New Jersey Republicans are often overlooked, but this time we are clearly in the running,” she stated.

When asked if the Republican National Committee should step in with more funding given the financial backing supporting Sherrill, Gibbs was confident that the RNC is already providing substantial assistance.

“The RNC is considering a stronger involvement and will likely offer more support. Jack is actively signaling to potential donors,” she noted.

The 2021 gubernatorial election held the record for most spending in state history until now. However, the 2005 election, where Democrat Jon Corzine defeated Doug Forrester, saw nearly $88.1 million spent between the primaries and general elections.

Like Murphy, Corzine was a former executive at Goldman Sachs before becoming governor.