The Senate Leadership Fund (SLF), a super PAC supporting Republican incumbents and candidates, raised $114.5 million during the third quarter of fundraising in 2024. The group, aligned with Senate GOP leader Mitch McConnell, reported having $112 million cash on hand as of the end of September. This brings their total fundraising for the 2024 election cycle to $181 million, more than they had at the same point in the 2022 midterms. The goal of SLF is to help recruit strong candidates and raise enough money to compete in battleground contests against well-funded Democrats.
With Democrats currently holding a slim 51-49 majority in the Senate, Republicans need a net gain of one or two seats to win back the majority. The math and the map appear to favor the GOP in 2024, as Democrats are defending 23 of the 34 seats up for grabs. Several key Senate seats are potential flips for Republicans, including in West Virginia, Ohio, and Montana. Democrats are also facing challenges in crucial presidential election battleground states with five Democrat-held seats up for grabs. Former Maryland Governor Larry Hogan’s campaign for an open seat in his heavily blue state poses an additional threat to Democrats.
SLF, along with the allied group American Crossroads, has reserved $228.5 million in ads across several states and began spending that money after Labor Day. Significant spending is targeting key Senate races in Ohio, Pennsylvania, Montana, Wisconsin, and Michigan. In Ohio, Democratic Sen. Sherrod Brown is facing a tough challenge from GOP candidate Berie Moreno, with $82.5 million being spent on ads in the state. In Montana, Republican candidate Tim Sheehy holds a slight lead over Democratic Sen. Jon Tester, with $47.9 million in ad spending. Pennsylvania, Wisconsin, and Michigan are also seeing extensive ad spending in competitive races.
Overall, SLF is investing heavily in Senate races across multiple states to help Republicans win back the majority in the Senate. With Democrats fighting to protect their fragile majority, the GOP is strategically targeting key seats that could potentially flip in November. The significant fundraising totals and ad spending by SLF indicate a strong push by Republicans to secure crucial Senate victories in the 2024 election cycle. Donors have continued to support the efforts of SLF, recognizing the importance of these battleground contests and the need for strong Republican candidates to compete against well-funded Democrats.
