Democratic U.S. Sen. John Fetterman’s third quarter haul is his lowest fundraising total over a three-month stretch since he announced his candidacy for the office in February 2021.
From the beginning of July to the end of September, Fetterman’s campaign raised just under $330,000 and spent a little less than $575,000.
It’s the third consecutive quarter where Fetterman’s campaign spent more than it raised. His campaign used $1.54 million, while gaining $1.23 million so far this year. At this point in 2024, his campaign raised $2.85 million, which is double the amount of his current 2025 totals.
During Fetterman’s successful run in 2022, he was a prolific fundraiser, bringing in $73.9 million on his way to flipping the open-seat blue over Republican Mehmet Oz.
Although Fetterman won’t be on the ballot until 2028, Christopher Borick, director of Muhlenberg College’s Institute of Public Opinion, said he believes his fundraising dip is “totally noteworthy.”
“It’s a sign of his tenuous position right now among his party’s financial supporters, who might have lots of questions about exactly where he’s at politically right now,” Borick said.
Freshman U.S. Sen. Dave McCormick (R-Pa.) raised just over $890,000 from the beginning of July to the end of September, but he won’t be on the ballot until 2030.
Borick acknowledged Fetterman has time to improve his fundraising efforts for a 2028 bid, but the latest numbers are “an indication that he’s a bit in the wilderness in terms of his position of financial support,” and that could be a challenge.
Fetterman has been criticized by some Democrats, including several in the state’s congressional delegation, over statements and votes he’s made in support of President Trump’s policies, including being the only Democrat who voted to confirm several of his cabinet nominations, the administration’s immigration enforcement, and backing a GOP plan to fund the government.
A Quinnipiac University poll released on Oct. 1 showed that Fetterman has an 8 point net job approval rating, which is an improvement from its January poll that showed it was a 3 point net job approval rating. However, he holds a 41 point net approval rating among Republicans, while holding a 21 point net disapproval rating from fellow Democrats. Independents were split 43% to 43%.
This was a significant shift from their January poll that showed Fetterman with a 70 point net approval rating among fellow Democrats and a 59 net disapproval rating among Republicans.
A report from Axios earlier this month noted that U.S. Reps. Brendan Boyle (D-2nd District), Chris Deluzio (D-17th District), and former Congressman Conor Lamb are potentially considering a primary challenge to Fetterman in 2028.
“It’s not surprising that they’re all probably spending some time and effort to discern the possibilities here, and one of them is to think about what they’ll need in finances, and what they’ll have in finances,” Borick said.
Boyle, who represents a safe seat based in Philadelphia, raised $610,000, which was the most of any Democratic incumbent in the state’s congressional delegation over the past three months. He entered October with $4.66 million on hand, which is more than any other incumbent in his party in the state’s U.S. House delegation.
Deluzio, who represents a more moderate district in western Pennsylvania, raised just over $415,000 in Q3 and entered July with just over $685,000 on hand.
And, although Lamb has not filed campaign finance reports since he’s not in office, Borick said, “it’s clear that Conor Lamb’s been out and about and keeping his name and face front and center in Pennsylvania politics over the last year.”
Fetterman entered October with $2 million on hand.
“He’s always had a unique brand, and that should not be underestimated,” Borick said. “His ability to connect with voters and kind of find his own path.”
“But ultimately, if he’s not able to, in a state that’s expensive to run in, like Pennsylvania, kind of turn this around, it could be a pretty big impediment for his chances at getting another term,” he added.
