NJ governor’s race spending to shatter records — with $72M spent already — as Ciattarelli gains on Sherrill

The financial stakes of the New Jersey gubernatorial race—currently in a tight competition and attracting national party focus—have eclipsed $72 million. Analysts indicate that it’s on track to break state spending records, with a month remaining until the election.

Republican Jack Ciattarelli is gaining momentum both in fundraising and voter support, while worried Democrats are channeling enormous resources through super PACs and independent expenditures to bolster the campaign of Rep. Mikie Sherrill, aiming to prevent the state—traditionally a Democrat stronghold—from flipping to Republican.

Pundits believe the total expenditure could exceed $250 million by Election Day on November 4, factoring in a state-record $145 million from this year’s gubernatorial primaries that involved Sherrill, Ciattarelli, and other candidates vying for the seat currently occupied by term-limited Democrat Phil Murphy.

Ciattarelli, a former state assemblyman from central Jersey’s Hunterdon County, announced his campaign raised $6.4 million for the general election last week—marking him as the first candidate in the race to qualify for the maximum $12.5 million in public matching funds.

Over $1 million was raised following Ciattarelli’s strong performance in a debate with Sherrill on September 21, with further publicity coming from shocking revelations that Sherrill was prohibited from attending the U.S. Naval Academy’s graduation in 1994 due to her involvement in a cheating scandal.

“Jack being able to out-raise Mikie to match . . . is significant as it’s not typical for a Republican challenger in this state,” remarked veteran GOP strategist Alex Wilkes. “Especially since she’s a sitting congresswoman!”

“I believe that people are starting to recognize this state as increasingly competitive,” she commented. “Take a look at the last presidential election: President Trump lost New Jersey by only six points, despite not campaigning here at all.”

Shortly after Ciattarelli achieved his fundraising milestone, Sherrill reported $7.35 million in campaign contributions, placing her over $1 million above the qualifying threshold.

Both candidates have agreed to an $18.5 million cap on campaign spending to access public matching funds; however, additional funds may be used for legal fees and other expenditures not directly related to voting efforts.

Sherrill benefits from substantial external resources.

The Democratic Governors Association plans to invest over $20 million in television, digital, and streaming advertisements on her behalf.

An additional $3 million is being contributed by the Democratic National Committee.

In contrast, a total of $11 million is being mobilized from two super PACs backing Ciattarelli: $7.3 million through the Republican Governors Association-backed Restore New Jersey and another $3.7 million from Change NJ, according to representatives from both PACs.

Currently, at least $72.3 million has already been earmarked for the general election through both campaign funds and external contributions—this includes around $42.4 million for Sherrill and $29.9 million for Ciattarelli.

This total already surpasses the $60.5 million spent during the 2021 general election, where Murphy narrowly defeated Ciattarelli. Including primary expenses, the overall figure approached nearly $90.7 million, as reported by the New Jersey Election Law Enforcement Commission.

While Ciattarelli’s external support appears modest when compared to Sherrill’s, it has already exceeded the $4.6 million he raised from PACs in 2021.

“We see a genuine opportunity to win,” stated Change NJ spokesman Carlos Cruz.

Sherrill’s campaign did not respond to inquiries.

Kate Gibbs, executive director of the New Jersey Republican State Committee, emphasized the significant chance to turn the state red, describing it as “an incredible show of momentum” for the National Republican Party heading into the upcoming midterm elections.

“Republicans in New Jersey generally face greater financial challenges in almost every race we engage in. Yet, we are competing effectively, evident from how closely matched this race is. We do not need equal funding to secure a win,” she asserted.

When questioned whether the RNC should invest heavily given the DNC’s fiscal support for Sherrill, Gibbs replied that the RNC has been “extremely supportive” by providing poll watchers.

“I believe the RNC is considering substantial support and is likely to step in. Jack is articulating everything required to signal to potential investors that we can indeed triumph and are doing all necessary to win,” she added.

The RNC has not provided a response to inquiries.

While the 2021 governor’s race represented the highest spending in state history up to this year, the 2005 election where Democrat Jon Corzine defeated Doug Forrester was a narrow second, totaling $88.1 million across primary and general elections—approximately $125 million when adjusted for inflation, according to a 2021 NJ ELEC analysis.

Corzine, similar to Murphy, was a millionaire executive with Goldman Sachs before assuming the governor’s office.