Home FinanceAs Graham Platner drops out of the U.S. Senate race, this is where his money could go • Maine Morning Star

As Graham Platner drops out of the U.S. Senate race, this is where his money could go • Maine Morning Star

by OmarAli
As Graham Platner drops out of the U.S. Senate race, this is where his money could go • Maine Morning Star

After Graham Platner suspended his campaign for U.S. Senate, The Maine Democratic Party has asked for donations to support the new candidate, executive director Devon Murphy-Anderson said will begin “scratch.”

That could be the case. Although it may not be so – and A U.S. Supreme Court ruling last week changed the possibilities.

As of the most recent filing deadline on May 20, Platner had $2.2 million in cash, but it is unclear how much he has spent or raised since then. That will be announced on July 15, when the latest campaign finance filings are due.

Platner, who announced Wednesday evening that he is dropping out of the race but has not yet officially withdrawn, can use any remaining funds to pay off his debts and may have to pay back some donors who donated specifically to his general election candidacy since he is no longer running. He could donate funds to charity or use the money for a future run.

Platner can only donate up to $2,000 to another candidate’s committee according to federal law. But he could help the new nominee indirectly through Democratic Party groups whose spending limits the Supreme Court recently struck down.

Platner’s campaign did not respond to questions about how the remaining money would be spent.

How the SCOTUS decision impacts

Already now, federally The law allows candidates to do this Transfer unlimited campaign funds to a party committee or organization. On June 30, the US Supreme Court ruled Borders removed about how much political parties can spend in coordination with candidates.

That means Platner’s campaign could transfer remaining funds to a Democratic Party group that can coordinate directly with candidates and now has no cap on how much it can spend.

“It would probably have to be a national decision because that’s what the Supreme Court decision was about,” said Mark Brewer, chair of the political science department at the University of Maine.

Given the timeliness of a decision, its application is generally untested. What is clear is that Platner’s campaign could not earmark funds that he gave to a party group specifically for the new candidate.

However, Brewer concluded: “Could Platner take the money, donate it to a party group as long as there are no strings attached, and then the party group turn around and say, we’re going to use that money in a coordinated campaign with the Maine Democratic Senate candidate? I think so,” Brewer said.

It’s unclear whether Platner would do so, as relations between his campaign and the state party have already soured discuss the process to select his replacement.

Platner could also send money to super PACs or independent political action committees. These groups have already been allowed to spend unlimited money to influence elections, but cannot coordinate directly with candidates.

Whoever replaces Platner will be at a clear financial disadvantage compared to Collins, who already had far more cash on hand — $10 million as of last deadline — than Platner and the support of major super PACs.

“It’s hard to imagine how any of these candidates can match Collins in terms of campaign contributions,” he said David Meyers of Open Secrets, a national nonprofit that tracks money in politics.

Financial hurdles, or lack thereof, for candidates transitioning from other races

This point is reinforced by the fact that candidates for state office cannot be subordinates State and federal law Transfer the money raised in their previous races to a federal race.

Three of the people who announced Senate runs after Platner’s withdrawal were candidates in Maine’s Democratic primary in June. They include former Senate President Troy Jackson, former director of the state Centers for Disease Control and Prevention Nirav Shah and Maine Secretary of State Shenna Bellows.

No such restrictions apply to candidates who unsuccessfully ran for Maine’s U.S. House of Representatives 2nd Congressional District seat.

These candidates can They could transfer their campaign funds to a new committee for a U.S. Senate bid or keep the same committee, Meyers said.

This process is already known Jordan Wood, who initially ran for the U.S. Senate before moving to the U.S. House of Representatives. Jordan Wood had $422,975 in cash on hand as of the most recent filing deadline on May 20.

Another former House candidate now running for the other chamber is Paige Loud $2,805.

Then there are former candidates for U.S. Senate – both in the last and previous races. Candidates must reapply while there is still cash in their accounts, even if they have long suspended their campaigns.

Maine Beer Company founder Dan Kleban, who dropped out of the Senate race in October but re-entered after Platner’s exit, has just $419 left. Gov. Janet Mills, who suspended her campaign in April, still has $717,000 left. Mills has not said whether she would re-enter the race.

David Costello, who remained in the primary but lost to Platner, has re-entered the race with $41,787 left.

Current Secretary of State Shenna Bellows, who unsuccessfully ran for the Democratic gubernatorial nomination this year, was Maine’s candidate for U.S. Senate in 2014 and lost to Collins. She finished her 2014 bidding at $17,969.

Meanwhile, Collins’ unsuccessful Democratic challenger when she last ran for re-election in 2020, Sara Gideonstill has about $2.4 million. Gideon has not indicated that she would run again.

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https://mainemorningstar.com/2026/07/09/with-graham-platner-exiting-the-u-s-senate-race-heres-where-his-money-could-go/

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