Scoop: Elise Stefanik has $12 million banked for likely N.Y. governor bid
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Rep. Elise Stefanik (R-NY) arrives for a House Republican meeting at the U.S. Capitol on May 20, 2025. (Photo by Tasos Katopodis/Getty Images)
Rep. Elise Stefanik (R-N.Y.) raised $3.2 million in the third quarter, giving her $12 million cash on hand across all of her accounts for a potential New York governor bid.
Why it matters: Stefanik is raising – and spending — money like a candidate eager to challenge Gov. Kathy Hochul (D) in 2026.
- "I am humbled by the record early support from generous grassroots donors and supporters in New York and across the country," Stefanik said in a statement first shared with Axios.
- "I will continue to work tirelessly to serve the hardworking families of New York, ensure Republican victories up and down the ballot in New York, and then we will fire Kathy Hochul once and for all next year," she said.
By the numbers: Stefanik has pumped over $500,000 into New York local races, from city council to town supervisor contests, putting her political operation in touch with over 100 campaigns across the state.
- She's also building her fundraising list, and has collected over 40,000 unique donors.
- The average donation to her campaign was $27, according to a person familiar with the matter.
Zoom in: Stefanik's team released a poll earlier this week that showed her down 43%-48% against Hochul among likely voters.
- But the very commissioning of a poll was yet another indication that Stefanik is preparing to enter the race. President Trump helped clear a path for her earlier this year.
- "Elise's momentum is just getting started and this is before any official announcement," said Alex Degrasse, a senior Stefanik adviser.
- "If Elise chooses to run, she will not only outwork Kathy Hochul, but she will very likely out raise her."
What we're hearing: Stefanik had her nomination to the United Nations pulled from her earlier this year.
- She's expected to make a final decision early next month, likely after New York City's Nov. 4 mayoral contest, which democratic socialist Zohran Mamdani is expected to win.
The other side: Hochul raised $4 million in the first half of the year and began the month of July with $17.5 million in the bank. Statewide candidates are only required to release fundraising numbers twice a year.
- But Hochul is facing a primary challenge from Lt. Gov. Antonio Delgado, the very deputy that she appointed to his position in 2022.
- Delgado ended the first half of the year with $1.4 million in cash on hand.
- But he only had a few weeks to raise money since announcing his split from Hochul.
Editor's note: This article has been corrected to reflect that Stefanik is a Republican.
