Sen. John Cornyn outraises AG Ken Paxton by $1 million in first three months of Senate primary matchup — but there’s a catch

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U.S. Sen. John Cornyn outraised Attorney General Ken Paxton by $1 million in the latest fundraising quarter through his campaign and joint fundraising committee, according to federal campaign finance reports, marking the first sign of how the two candidates measure up financially in their nascent Senate primary clash.

Cornyn originally announced a $3.9 million haul from the start of April through the end of June, but reports show that only $803,000 went directly to his campaign. The remaining $3.1 million was raised by his joint fundraising committee, a fundraising arrangement that allows a candidate to raise money alongside other political committees, such as party organizations or PACs, with the proceeds split among the participating entities.

About $1.2 million of these contributions exceed the amount that can be given to a single candidate, meaning the money will have to be sent to other Cornyn-backing committees. In practice, that means Cornyn's campaign only took in about $2.7 million between its direct fundraising and transfers from the joint fundraising committee.

Paxton raised $2.9 million during the same span in his primary campaign account alone. He launched his primary challenge to Cornyn on April 8, about a week into the three-month fundraising period.

Cornyn’s campaign also reported $8.5 million cash on hand, giving the four-term senator a deeper war chest than Paxton, who has $2.5 million in his campaign account.

Millions more will pour into the race from political action committees affiliated with each candidate. The Cornyn-aligned PAC Texans for a Conservative Majority previously announced it had raised $10.9 million last quarter, while the pro-Paxton Lone Star Liberty PAC raised $1.85 million during the same period, according to a person familiar with the finances.

Maintaining his initial monetary advantage will be necessary for Cornyn to have any hope of overcoming a deficit that has exceeded 15 points in recent public polling. Outraising Paxton gives Cornyn a fighting chance to spend enough on TV and online ads, direct mail and canvassing to close the gap in what’s shaping up to be one of Texas’s most contentious primary showdowns.

Rep. Wesley Hunt, a Houston Republican who is considering whether to join the race, raised $414,000 over the last three months, giving him a $3 million war chest. His joint fundraising committee, which splits its proceeds with multiple campaigns, raised an additional $337,000.

He also made a recent six-figure buy on the Houston, Dallas and San Antonio airwaves with an ad that appears aimed at raising his name recognition outside his district.

If Hunt launches a Senate bid, he would occupy a similar lane to Paxton, who is positioning himself as an anti-establishment MAGA warrior made in the image of President Donald Trump’s Republican Party. Cornyn is downplaying his old guard party credentials, instead highlighting his ties to Trump and the work he’s done for the president in the Senate.

In a statement, Cornyn campaign manager Andy Hemming said the senator’s team is “confident that we are on track to have the necessary resources to communicate to Texas GOP primary voters about Senator Cornyn’s conservative record and provide facts about Ken Paxton’s repeated mismanagement of his office, ethical failures and funding of radical left wing groups with taxpayer grants.”

Meanwhile, Paxton said in a statement that he has been “incredibly honored and blown away by the support I've received since launching my campaign,” touting the $2.9 million as a show of strength.

“The grassroots movement to fire John Cornyn continues to grow stronger every single day and this is only just the beginning,” he added. The attorney general previously estimated he would need to raise $20 million to unseat Cornyn. To meet that benchmark, Paxton and his affiliated PACs would need to kick their fundraising efforts into overdrive to collect another $15 million before the March 3 election.

Paxton had $2.8 million in his state campaign account at the end of last year, according to his most recent filing. Federal rules do not allow Paxton to directly transfer the money to his Senate campaign account, though he can refund it to his donors and “coordinate arrangements” to have them donate to his federal account. Individual donors can give up to $3,500 to a federal campaign each election.

The Democratic field for Senate is in its infancy. Former Rep. Colin Allred, who announced his campaign after the fundraising period ended on June 30, only has $55,000 in his campaign account. Rep. Joaquin Castro, D-San Antonio, is also considering a run for Senate. But with just $168,000 in his coffers, he would need substantial financial backing to be competitive in what is shaping up to be a crowded field.

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