Warner holds a 40-to-1 cash edge over Mizusawa as Virginia’s Senate race enters its final week

By Philippa Langstrom

WASHINGTON — Sen. Mark Warner heads into the final full week of his campaign for a fourth term with about 40 times as much money in the bank as his Republican challenger, retired Maj. Gen. Bert Mizusawa, according to reports the two campaigns filed with the Federal Election Commission this month.

Warner’s principal campaign committee, Friends of Mark Warner, reported raising $20.2 million in the 2025–26 cycle through Oct. 14 and spending $19.6 million, leaving $6.22 million in cash and no debt. Mizusawa’s committee reported $1.10 million raised, $944,726 spent and $152,394 on hand on the same date, along with $45,783 in debts.

Both men are on the Virginia Department of Elections’ certified ballot for the Nov. 3 general election. Early voting runs through Saturday, Oct. 31, according to WAVY-TV.

Where the money came from

Of Warner’s cycle receipts, $10.4 million came from individual donors, including $3.28 million in unitemized gifts, which are contributions from donors who have given $200 or less. Political action committees and other committees gave $2.48 million, according to the FEC summary.

Mizusawa’s committee reported $877,747 from individuals, of which $397,641 was unitemized, and $11,350 from other committees. The candidate has also put his own money into the race: FEC totals show $155,129 in contributions from Mizusawa and a $20,000 loan, a combined $175,129, or about 16 percent of his receipts. Warner reported no candidate contributions or loans this cycle.

What they are saying

In a Friday interview with WAVY-TV in Portsmouth, Warner said the war with Iran is driving up costs for Virginians. “The easiest thing to get the price of gas down is end this war of choice with Iran,” he said. “Gas in Virginia was $2.81 a gallon before the war started.” He added that “diesel is at $6.40,” which he said “drives up everything at the grocery store.”

Warner also criticized the administration’s tariffs, saying they had made “enemies not only of our Canadian friends but so many countries around the world.” On artificial intelligence, he said: “I’m pro-AI, but you’ve got to have some guardrails. These data centers need to bring their own power, and can’t raise electric bills.” And he pitched his record across the aisle: “I’ve been part of every bipartisan deal in the last 15 years or so.”

Mizusawa, speaking with WTVR-TV in Richmond, defended confronting Tehran. “Everybody agrees that Iran should not have a nuclear capability,” he said. “Unfortunately, it has affected our gas prices.” He blamed Warner and Democrats for policies that he said “prevented us from increasing our domestic production as well as our domestic refining capability,” and said Venezuela “is going to be a wonderful source of oil.”

Mizusawa told WTVR that both parties share blame for a federal deficit of about $2 trillion. “So it’s not either party; it’s both parties involved,” he said, and proposed a 50-year plan to return to the gold standard. In a separate WAVY interview, he said tariffs can be justified to secure reciprocal trade, called for U.S. self-sufficiency in products such as batteries and semiconductors, and said a Republican senator could act as a check on the president.

What to watch

The campaigns’ next full accounting is due after the election: the FEC’s post-general reports, covering Oct. 15 through Nov. 23, are due Dec. 3. Any contribution of $1,000 or more received between Oct. 15 and Oct. 31 must be reported within 48 hours, so late money will show up in those filings before Election Day.

The Washington Inquisitor has asked the Warner campaign, Warner’s Senate press office and the Mizusawa campaign for comment, and has also contacted the Virginia Department of Elections and the University of Virginia Center for Politics. This story will be updated with any response.

Photo: Sen. Mark Warner, official portrait. Ryan Donnell, office of Sen. Mark Warner / Wikimedia Commons, public domain.