Maryland Republican gubernatorial nominee Larry Hogan has $2.4 million in the bank for the November election, giving him what is expected to be a temporary financial advantage over his Democratic opponent, Lt. Gov. Anthony G. Brown.
Hogan’s bottom line, announced late Tuesday, was bolstered last month by a nearly $2.6 million grant that comes with his participation in the state’s public financing system. His campaign will not be allowed to raise additional funds between now and November.
Brown and his running mate, meanwhile,reported raising more than $1.5 million since early June and said they have more than $760,000 in the bank. Aides to Brown, who is not accepting public financing, said he has a full slate of fundraisers scheduled in coming weeks.
Aside from the campaign accounts, Brown has a sizable advantage in party support, which is expected to play a greater role this year than in past elections.
According to the most recent filings, the Maryland Democratic Party had close to $1 million in the bank, much of which can be used to promote Brown’s candidacy.
The Maryland Republican Party, by contrast, reported a combined total of only $37,200 in multiple accounts it maintains. Given the restrictions imposed on Hogan’s campaign because of public-financing rules, the GOP has said it hopes to ramp up fundraising efforts to help Hogan in coming weeks.
On Wednesday, Hogan sent out a solicitation asking supporters to help build on his momentum by donating to the state party.
Hogan has also been raising money to pay off debts he incurred during the Republican primary. On Tuesday, the Republican reported having more than $584,000 in outstanding loans and bills, including $500,000 that he loaned personally to his primary campaign.
Brown aides said they are confident that Hogan’s cash-on-hand advantage would be fleeting. On Tuesday alone, a Brown aide said, more than $340,000 was raised at a Georgetown event with Vice President Biden to benefit Brown’s campaign and the state Democratic Party.
That money was not included in the most recent fundraising reports, which covered June 9 through Aug. 19.