Trump's Political Groups Spend Nearly $277 Million on Midterms, With $164 Million Left

President Donald Trump's political operation has poured nearly $277 million into this year's midterm elections since the start of September, according to new federal campaign finance filings. The bulk of that came from MAGA Inc., his flagship super PAC, which transferred $200 million to No Going Back PAC Inc. and $25 million to Safety & Affordability PAC Inc., two affiliated groups running millions of dollars in advertising. MAGA Inc. still had more than $164 million in the bank as of Oct. 14.

Corry Bliss, a GOP Senate and House campaign strategist who ran the Congressional Leadership Fund in 2018, told Fortune the scale of the spending is unmatched. “It's more than any president has ever spent, by far, on the midterms,” Bliss said. Republicans are fighting to defend slim majorities in both chambers, with the president under pressure to help candidates after he helped defeat several longtime party incumbents, and as low approval ratings persist amid voter frustration over high costs and the war with Iran.

So far, the three groups required to disclose their donors have spent more than $256 million on advertising, according to AdImpact, which tracks media spending and reservations. That figure includes tens of millions of dollars directed at Texas, where Republican Senate candidate Ken Paxton is locked in a race against Democrat James Talarico. Elon Musk has also invested heavily in Texas, prompting Talarico to accuse him of trying to buy the seat.

The decision to wait until late in the cycle to start advertising has diluted the impact of the spending. The groups are paying far higher rates because available air time has shrunk, in some cases more than five times what they would have paid had they started sooner. In a post on his social media site Tuesday, Trump said he planned to spend “over 400 Million Dollars by Election Day,” including $300 million he said had already gone to advertising, voter contact, rallies, tele-rallies, get-out-the-vote programs and efforts to prevent voter cheating.

MAGA Inc. entered September with nearly $416 million on hand and has continued to draw large sums from billionaire backers, including businessperson Diane Hendricks, Blackstone Group CEO Stephen A. Schwarzman and casino magnate Steve Wynn. Republicans have enjoyed a significant financial edge over Democrats this cycle, helped by donors such as Musk, even as the party faces a difficult map on Nov. 3. With more than $164 million still available, Trump-affiliated groups could add to their total before polls close.