Governor Kathy Hochul of New York has reported a significant fundraising total for her reelection campaign in the second half of 2024. Hochul, who has been facing challenges with low approval ratings, managed to raise $3.3 million for her own campaign and an additional $6.7 million for the state Democratic Committee during this period.
While Hochul has a history of setting fundraising records during her time in office, this particular amount falls short compared to her predecessor, Andrew Cuomo, who typically raised around $4 million at a similar point in the election cycle. However, Hochul focused much of her efforts last year on raising funds for the state Democratic Committee, which has traditionally been underfunded and overshadowed by the governor’s reelection campaign. As a result, the $6.7 million raised for the committee far surpasses the $813,000 raised during Cuomo’s tenure in the latter half of 2020.
Hochul’s campaign committee is set to report having $15.5 million cash on hand, while the state party will have $2.6 million. In comparison, Cuomo’s campaign account had $16.8 million in January 2021, with the Democratic Committee holding just $513,000.
In 2022, Hochul raised an impressive $53 million for her campaign, setting a new record despite being in office for only a short time before the election. As she gears up for reelection next year, Hochul faces a different fundraising landscape due to new campaign finance regulations that cap donations at $18,000, unlike the unlimited sums Cuomo was able to raise from certain donors.
One of Hochul’s potential challengers, Lt. Gov. Antonio Delgado, has reported raising $856,000. This amount is comparable to the $832,000 Hochul raised when she was lieutenant governor in the second half of 2020, a time when her prospects for a higher-profile race were uncertain.
As the race for New York governor heats up, fundraising will play a crucial role in determining the candidates’ viability and reach. Hochul’s strong fundraising efforts so far indicate a competitive reelection campaign ahead.
