This week’s campaign finance reports covering the first half of 2025 offer a revealing snapshot of Texas politics—who's winning the money race, who’s struggling to stay relevant, and what it all means heading into next year’s crucial midterm elections.
For federal campaigns, the fundraising window stretched all six months, while state-level candidates were limited to a short post-session period in late June due to Texas’ moratorium on fundraising during and after the legislative session. But even in that narrow window, the political cash flowed freely, offering a preview of who’s likely to dominate Texas politics in the coming year.
Abbott and Patrick: The State’s Financial Juggernauts
Gov. Greg Abbott continues to tower over the field financially, raising a staggering $20 million in just a few weeks. Between his personal campaign account and his PAC, Texans for Greg Abbott, the governor now boasts $87 million on hand—making him not only the wealthiest politician in Texas politics but one of the most well-funded in the nation.
Abbott’s team says much of that cash will be deployed strategically. Plans include a $20 million investment to flip Harris County back to the GOP and a push in South Texas to build on Republican inroads from 2024. Abbott is also hinting at a property tax reform offensive, echoing last year’s school choice campaign.
“The broad backing we’ve received proves that Texans are committed to keeping our state strong, secure, and prosperous,” said campaign manager Kim Snyder.
Meanwhile, Lt. Gov. Dan Patrick, who has $37 million cash on hand, is fundraising and campaigning like a man preparing for another term—despite speculation that 2024 might be his last. His only declared opponent so far, Rep. Vikki Goodwin (D-Austin), reported a mere $36,000 raised and $219,000 in her account—numbers that highlight the steep hill Democrats face in Texas statewide races.
Patrick’s consultant, Allen Blakemore, declared the pace of this early campaign unprecedented, saying Patrick has set the tone for a high-speed reelection effort.
Millionaires, Billionaires, and PACs
In total, 18 donations of $1 million or more were recorded in this period, reflecting Texas’ unique political landscape with no contribution limits and a massive donor class. Notable donations include:
$10 million from law firm Arnold & Itkin to its new Texans for Truth and Liberty PAC
$9.1 million from casino billionaire Miriam Adelson to Texas Sands PAC
$5 million from energy mogul Tim Dunn
$2 million from Elon Musk split between Texans for Lawsuit Reform and an affiliated group
Abbott alone received four $1 million contributions, reinforcing his dominance.
Senate Showdown: Cornyn vs. Paxton and the Waiting Game
The race for the U.S. Senate is the marquee battle in Texas politics right now.
Sen. John Cornyn raised $3.9 million, ending the period with $8.5 million cash on hand. His most visible GOP challenger, Attorney General Ken Paxton, raised $2.9 million and has roughly $5 million when combining federal and state accounts (though a significant chunk went to legal fees).
Two other Republicans—Reps. Wesley Hunt and Ronny Jackson—appear to be circling the field. Hunt has $3 million on hand and recently aired an ad that sounded campaign-ready. Jackson holds $4 million in his account and was included in recent polling.
On the Democratic side, momentum is much more modest. Former Rep. Colin Allred, fresh off a tough 2024 Senate loss to Sen. Ted Cruz, officially entered the race after the deadline, reporting just $55,000 in cash. Former astronaut Terry Virts had a small haul and high burn rate, while potential candidates Joaquin Castro and James Talarico are still weighing their options.
The winner of the Republican primary will likely determine the general election’s competitiveness, with Democrats seeing Paxton as the most vulnerable GOP nominee.
Down-Ballot Races: Big Money and Big Egos
Texas’ other statewide contests show a common theme: money matters, and self-funding is in style.
In the Attorney General’s race, state Sen. Mayes Middleton (R-Galveston) is attempting to bulldoze the field with a $10 million personal loan, though he raised just $166,000 otherwise. His rivals, Sen. Joan Huffman (R-Houston) and former Cruz staffer Aaron Reitz, raised $2.3 million and $2.1 million, respectively. Reitz's fundraising included three $250,000 checks and a contribution from an indicted Dubai doctor now on the run, raising eyebrows.
In the Comptroller’s race, former Sen. Don Huffines is repeating his 2022 playbook, lending his campaign $10 million and receiving $3 million from his brother, businessman Phillip Huffines. But this time he’s not running against Abbott — and he has $14 million to work with.
Railroad Commissioner Christi Craddick pulled in $2.8 million, more than any other non-family-backed candidate, and has $3.2 million in the bank. Acting Comptroller Kelly Hancock reported $6 million on hand after just weeks in the race, thanks to heavy support from Abbott’s network.
The lone underperformer? Agriculture Commissioner Sid Miller, who raised just $70,000 and has a paltry $37,000 left. After threatening to primary Abbott in 2022, Miller has become politically toxic to top donors. His opponent, honey magnate Nate Sheets, reported $400,000 on hand—half of it self-funded.
Legislative Landscape: Speaker, PACs, and Intra-Party Wars
House Speaker Dustin Burrows (R-Lubbock) raised $1 million and has $1.9 million on hand—a strong showing, but short of what may be needed to defend key incumbents in potentially tough primaries and general elections.
Burrows is already spending strategically, including $25,000 in legal fees tied to intra-party disputes stemming from Rule 44 censure threats—an increasingly popular weapon among hardline conservatives.
Elsewhere, trial lawyers and business groups are battling for control of the House. Texans for Truth and Liberty PAC, backed by Arnold & Itkin, handed out $1 million to legislators in both parties. Reps. Marc LaHood and Mitch Little received the largest contributions.
Business-aligned Texans for Lawsuit Reform PAC isn’t backing down, reporting $11 million raised and $37 million on hand. They funneled $245,000 to Rep. Jeff Leach (R-Plano), one of their most loyal House allies.
On the Democratic side, new groups like the Agave Democratic Infrastructure Fund and The PAC for America’s Future-TX are trying to build staying power. Agave raised $1.1 million, while the latter sits on $4.3 million.
Looking Ahead
With the next finance reports due at the end of 2025, the picture will be far clearer once candidate fields are finalized after the ballot filing deadline.
But one thing is already obvious: money will talk louder than ever in 2026. Whether it's self-funding conservatives trying to buy name recognition, institutional Republicans with deep donor ties, or insurgent Democrats looking for a breakthrough, the battle is on—not just for seats, but for control of Texas’ political future.
