Challengers have more cash than incumbents in at least 14 House races, FEC records show

By Nora Pembrook

WASHINGTON — In the final stretch before Election Day, challengers in at least 14 House races reported more money in the bank than the incumbents they are trying to unseat, according to a Washington Inquisitor review of Federal Election Commission pre-general reports covering activity through Oct. 14.

Nine of the 14 incumbents are Republicans, four are Democrats and one, Rep. Kevin Kiley of California, is running as an independent. Together, the 14 incumbents reported $7.35 million in cash on hand; their challengers reported $15.32 million.

The pattern runs against the usual advantage of incumbency. Across the 81 House general-election matchups the Inquisitor reviewed, the median incumbent had about $895,000 on hand, roughly three times the median challenger’s $293,000. In 67 of the 81 races, the incumbent had more cash.

Cash on hand is a snapshot, not a forecast. Incumbents often spend heavily on television and mail in October, and outside groups have poured money into many of these districts. But the figures show where incumbents will enter the final days with less money of their own to spend than their opponents.

The biggest gaps

The largest gap is in Colorado’s 4th District, where Democrat Eileen Laubacher reported $1.85 million in cash, compared with $274,000 for Republican Rep. Lauren Boebert. Laubacher has raised $13.7 million this cycle, more than 10 times Boebert’s $1.23 million, almost all of it from individual contributions, according to FEC data. Independent expenditures involving Boebert, supporting or opposing her, totaled about $1.5 million through Oct. 26, according to FEC independent-expenditure filings.

In Florida’s 14th District, Republican Mike Beltran reported $1.73 million on hand against $577,000 for Democratic Rep. Kathy Castor. Most of Beltran’s money came from the candidate: he reported $2.01 million in loans from himself and $331,000 in individual contributions. Castor raised $4.93 million this cycle. The race has also drawn heavy outside spending, with about $19.1 million in independent expenditures involving Castor and $10.5 million involving Beltran.

In Pennsylvania’s 10th District, Democrat Janelle Stelson reported $2.07 million in cash and $9.23 million raised, compared with $1.02 million on hand and $6.79 million raised for Republican Rep. Scott Perry.

Self-funding and loans

Four of the challengers ahead in cash are Republicans running against Democratic incumbents. Three of them, including Beltran, have put significant money of their own into their campaigns, according to FEC data.

In North Carolina’s 1st District, Republican Laurie Buckhout reported $1.44 million on hand against $826,000 for Democratic Rep. Don Davis. Buckhout reported $2.40 million in loans from herself, of which $800,000 has been repaid, and $1.08 million in individual contributions. In Florida’s 9th District, Republican Dan Green reported $450,000 on hand, compared with $250,000 for Democratic Rep. Darren Soto, after lending his campaign $2.24 million. Green reported about $248,000 in individual contributions.

Washington’s 3rd District is the exception among the Democratic-held seats. Republican John Braun reported $672,000 on hand against $235,000 for Democratic Rep. Marie Gluesenkamp Perez, but Gluesenkamp Perez has raised $9.47 million, nearly three times Braun’s $3.31 million, and spent $9.26 million of it, according to the FEC.

Several Republican incumbents also carry debts. Rep. Max Miller of Ohio, who reported $136,000 in cash, listed $1.97 million in debts owed by his campaign, according to FEC summary data. His Democratic challenger, Brian Poindexter, reported $794,000 on hand and no debts.

Democrats outraising Republican incumbents

In seven of the nine races with Republican incumbents, the Democratic challenger has also raised more money over the cycle. Besides Laubacher, Stelson and Poindexter, they are Sarah Trone Garriott in Iowa’s 3rd District ($8.07 million, compared with $6.12 million for Rep. Zach Nunn), Joanna Mendoza in Arizona’s 6th ($11.24 million, compared with $7.65 million for Rep. Juan Ciscomani), Jamie Ager in North Carolina’s 11th ($5.87 million, compared with $1.03 million for Rep. Chuck Edwards) and Christina Bohannan in Iowa’s 1st, who in her third race against Rep. Mariannette Miller-Meeks has raised $9.91 million to Miller-Meeks’s $9.10 million.

Edwards has raised less than any other incumbent on the list. Independent expenditures involving Ager total about $6.9 million, compared with about $177,000 involving Edwards, according to FEC filings through Oct. 26.

In Michigan, Democratic challengers lead two Republican incumbents in cash. State Sen. Sean McCann reported $1.03 million on hand, compared with $394,000 for Rep. Bill Huizenga in the 4th District, and Callie Barr reported $384,000 to Rep. Jack Bergman’s $263,000 in the 1st.

California’s independent incumbent

In California’s 6th District, redrawn under the state’s new congressional map, Kiley, a former Republican now running without a party preference, faces Democrat Richard Pan, a former state senator. Kiley reported $35,000 in cash on Oct. 14 after spending $4.07 million, more than the $3.72 million he raised this cycle, according to the FEC. Pan reported $208,000 on hand. Kiley finished first in the June primary with 24.3% of the vote to Pan’s 23.2%, according to Ballotpedia.

Close behind

In 11 more of the 81 races, the incumbent’s cash advantage was less than 50%. They include Republican Reps. Jeff Crank and Jeff Hurd in Colorado, Brad Finstad in Minnesota, Anna Paulina Luna in Florida, Rob Wittman in Virginia, Tom Kean Jr. in New Jersey, Gabe Evans in Colorado and Ryan Mackenzie in Pennsylvania, and Democratic Reps. Dina Titus of Nevada, Val Hoyle of Oregon and Gabe Vasquez of New Mexico.

Kean reported $1.37 million in cash, compared with $1.05 million for Democrat Rebecca Bennett in New Jersey’s 7th District. Evans reported $1.33 million, compared with $1.00 million for Democrat Manny Rutinel in Colorado’s 8th. In Colorado’s 5th District, Crank reported $543,000 to Democrat Jessica Killin’s $508,000. In Nevada’s 1st District, Titus reported $202,000 and Republican Carrie Buck $184,000.

Outside money

Outside groups have spent about $215 million in independent expenditures involving the candidates in these 14 races, according to an Inquisitor analysis of FEC independent-expenditure filings, more than the $155 million the 28 candidates have raised combined. In most of the races, that spending dwarfs the cash gaps in the table above. A separate Inquisitor analysis published today found outside groups have spent about twice as much as the candidates in the 30 costliest House races.

That means a cash disadvantage for an incumbent does not necessarily mean being outspent on the airwaves. In North Carolina’s 1st District, for example, about $20.1 million in independent expenditures has involved Davis and $16.6 million has involved Buckhout.

How we did the analysis

The Inquisitor used the FEC’s 2025-2026 candidate summary bulk file and identified House races in which both an incumbent and a challenger filed pre-general reports covering activity through Oct. 14, 2026. Because the FEC’s incumbent flag contains errors, including members who are retiring or running for other offices, the Inquisitor compiled a list of 81 matchups in which the incumbent is on the general-election ballot; the list is not exhaustive. Where an incumbent faces more than one challenger, the table uses the challenger with the most cash.

Cash on hand, receipts and loans are as reported by the campaigns. Independent-expenditure totals come from the FEC’s 24- and 48-hour reports through Oct. 26 and include spending both supporting and opposing each candidate in the general election, after removing duplicate amended filings. Candidate pages are linked in the table.

The Washington Inquisitor is seeking comment from the campaigns of the incumbents and challengers named in this story; this story will be updated with any response.