In the three months from July 1 until Sept. 30, U.S. Rep. David Trone of Potomac–a multi-millionaire businessman who is largely self-financing his bid for the 2024 Democratic Senate nomination–spent more than three times the amount his chief rival, Prince George’s County Executive Angela Alsobrooks, managed to raise during the same period.
Campaign disclosure reports filed with the Federal Election Commission on Sunday show Trone spending nearly $4.8 million in the third quarter of the year–more than three times the $1.52 million that Alsobrooks raised from outside contributors.
Alsobrooks’ haul of $1.52 million in outside contributions during the most recent reporting period was down somewhat from the $1.73 million she managed to raise in May and June after announcing her bid for the open Senate seat.
She did report $2.1 million in her campaign treasury as of Sept. 30 after spending $745,000 over the past three months–about 15% of what was expended by Trone during the same period.
About two-thirds of Trone’s third quarter 2024 spending–approximately $3.2 million–was directed to a statewide television and digital ad blitz that his campaign launched in mid-September, eight months prior to the May 14, 2024 Democratic primary.
Trone is spending money at a pace more typical of the closing weeks of a competitive primary or general election campaign, when voters generally start to focus on the race in question. But Trone–who has spent a total of $43.5 million in four campaigns for the House of Representatives–has never been a typical candidate.
He has told backers that he will spend upwards of $40 million to win the open seat being vacated by retiring Sen. Ben Cardin (D-Baltimore) next year, according to multiple published reports. In an interview with MoCo360 last month, Trone sidestepped questions about the $40 million figure, but twice vowed to spend “what it takes” to win.
Earlier this year, Trone pumped nearly $9.8 million in personal funds (formally designated as “loans”)into his Senate campaign. He did not loan his campaign additional funds during the three months between July 1 and Sept. 30, but his FEC report showed that he only had $436,500 left in his campaign treasury at the end of the third quarter.
Given his “what his takes” comment, along with recent statements that the recently launched TV and digital ad effort will run through primary day, it appears to be only a matter of time before Trone again reaches into his deep pockets.
Trone has sought to turn his self-financing to his political advantage by repeatedly noting his refusal to accept contributions from lobbyists and political action committees. He raised just $63,400 in outside individual contributions during the third quarter of the year, according to the latest FEC report.
In contrast to Trone, Alsobrooks has emerged as the favorite of the Maryland Democratic establishment in the race, with numerous high-profile endorsements from statewide officials and members of the Maryland General Assembly, along with four of Trone’s colleagues in the Maryland congressional delegation.
A third prominent candidate in the Democratic Senate primary, at-large Montgomery County Councilmember Will Jawando of Silver Spring, saw contributions fall off in the third quarter in his bid for the party’s nomination.
Jawando’s campaign reported raising $225,000, down by more than half from the $526,000 he raised in the second quarter of the year. He spent $206,500 during the latest reporting period, leaving him with $322,000 in the bank as of Sept. 30–about 15% of what Alsobrooks reported in her campaign treasury.
Whoever wins the Democratic Senate nomination is regarded as the heavy favorite in the 2024 general election to retain the seat. With former Gov. Larry Hogan indicating repeatedly that he is not interested in the Republican Senate nod, GOP activists appear to be rallying around retired Air Force Brigadier Gen. John Teichert–who announced his candidacy earlier this month.
Because Teichert did not enter the race until after Sept. 30, it will be the end of January–when the next FEC filing is due–before there is a clear indication of how successful he has been in attracting financial support.
This story will be updated
