There are 23 House incumbents running for reelection in races that have been deemed toss-ups by the nonpartisan Cook Political Report, with 14 of those districts held by Republicans and nine held by Democrats. In those races, the Democrat incumbents raised an average of roughly $2.3 million during the third quarter compared to roughly $1.25 million for their GOP counterparts, according to an analysis of campaign finance reports filed with the Federal Election Commission.

Democratic candidates facing vulnerable GOP incumbents also fared well during the third quarter, with nearly every challenger outraising their Republican opponents. On the other hand, no Republican challenger facing a Democratic incumbent in the toss-up category managed to outraise their opponents. 

Vulnerable Senate Democrats also had a healthy fundraising quarter, outraising their GOP challengers as the party looks to defend its slim majority next year. 

Here’s a breakdown of some of the most eye-popping data from last quarter’s fundraising haul: 

Jon Tester reports sky-high sum in Montana

Among the most competitive Senate races this year is in the state of Montana, where Sen. Jon Tester (D-MT) is fighting for his political life against Republican challenger Tim Sheehy. However, if fundraising reports indicate anything, Tester is showing he won’t go down without a fight. 

Tester reported a fundraising haul of $32.2 million between July and September, far surpassing Sheehy’s $9.7 million raised during the same time period. With that number, Tester outraised all other Senate candidates last quarter and raised five times as much money as he did during the second fundraising quarter. 

Other Democrats raked in record-breaking hauls

A handful of other candidates also said their hauls were record-high sums for their campaigns this cycle, including another vulnerable senator: Sen. Bob Casey (D-PA). 

Casey raised $16 million during the third quarter, which his campaign said is a new record for the Democrat. McCormick brought in $7.3 million during that same period, including a $200,000 loan to his campaign.

The race is also one of the most expensive races of the 2024 cycle, as it is likely to determine which party will win control of the Senate next year. More than $190 million has been spent on the contest so far, with a total of $316 million expected by Election Day. 

Two House Democrats also reported record-high hauls, including Amish Shah, who is facing Rep. David Schweikert (R-AZ). Shah raised $3.45 million in the third quarter, which is the most an Arizona congressional candidate has ever raised in a single quarter.

Meanwhile, Rep. Susan Wild (D-PA) raised $2.5 million in her reelection campaign, a record high for her campaign.

Democrats challenging House Republicans saw a surge in third quarter

One of the most notable shifts of the third quarter happened shortly after President Joe Biden dropped out of the presidential contest and was replaced by Vice President Kamala Harris. That shift prompted a surge in fundraising for national Democrats, which appears to have trickled down to Democratic challengers looking to unseat vulnerable Republicans in the House. 

Of the 14 GOP incumbents representing toss-up districts, all but one was outraised by their Democratic opponent in the third quarter, according to FEC filings. Rep. Michelle Steel (R-CA) was the lone Republican to outraise her challenger, raking in $2.6 million last quarter compared to Derek Tran’s $2.1 million haul. 

However, all 14 of the Democratic challengers saw a massive surge in fundraising over the last three months. 

Among those who had the biggest surges is Democratic candidate George Whitesides, who is facing Rep. Mike Garcia (R-CA). Whitesides raised $2.8 million during the third quarter, surpassing his $1.5 million from the quarter before.

Democratic candidate Will Rollins raised $3.6 million last quarter in his bid to unseat Rep. Ken Calvert (R-CA), besting his $2.2 million haul from the second quarter. 

“The American people are ready for a Democratic majority that will lower costs, grow the middle class, and fight for their freedoms — that’s why Democrats continue to outraise their opponents,” Viet Shelton, spokesman for the Democratic Congressional Campaign Committee, told the Washington Examiner. “Republicans’ disastrous third quarter is a result of Republicans caving to the extremists in their party and failing to deliver results. They’re losing momentum, money, and, in November, the majority.”

But don’t count Republicans out yet 

Although Democrats managed to outraise their GOP counterparts in toss-up districts, House Republicans still experienced a surge themselves last quarter. 

Nearly all 14 GOP incumbents outperformed their second-quarter hauls, and all nine of the Republican challengers looking to unseat Democratic incumbents also raised more during the third quarter. 

House Speaker Mike Johnson (R-LA) also had a record-breaking quarter after raising $27.5 million between July 1 and Sept. 30, with $8.1 million of that going toward some of those GOP members and candidates. That’s the most money a Republican speaker has ever raised in the third quarter of a presidential election year, according to the speaker’s office.

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House Republicans have also pointed to their candidates’ overall war chests, arguing that GOP candidates in the National Republican Congressional Committee’s Patriot program have more cash on hand than those in the DCCC’s Frontline group. 

Those in the NRCC group had an average of $2.1 million cash on hand by the end of the third quarter, compared to $1.5 million cash on hand for their Democratic counterparts.