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Photo: Susan Walsh/Pool/AFP via Getty Images

Sen. Lindsey Graham (R-S.C.) announced Tuesday his campaign raised $28 million in the third quarter — a quarterly fundraising record for Republican Senate candidates, but less than half of the staggering $57 million his Democratic challenger Jaime Harrison raised.

Why it matters: Graham, a close ally to President Trump and the chair of the powerful Senate Judiciary Committee, is facing the toughest re-election battle of his Senate career.

The big picture: The Cook Political Report updated its forecast for the Senate race last week, moving it from "lean Republican" to "toss up," while a September Quinnipiac poll found the race tied at 48%-48%.

  • The Senate Leadership Fund, a Republican super PAC, plans to spend $10 million in the race, hoping to boost Graham's re-election bid.
  • The race is quickly becoming among the most expensive in the country. Harrison has raised roughly $86 million, and Graham’s total fundraising is around $58 million, according to AP.

Go deeper: The blue money wave in Senate races

Go deeper

Off the Rails

Episode 6: Last stand in Georgia

Photo illustration: Aïda Amer/Axios. Photo: Drew Angerer, Raymond Boyd/Getty Images

Beginning on election night 2020 and continuing through his final days in office, Donald Trump unraveled and dragged America with him, to the point that his followers sacked the U.S. Capitol with two weeks left in his term. Axios takes you inside the collapse of a president with a special series.

Episode 6: Georgia had not backed a Democratic presidential candidate since 1992 and Donald Trump's defeat in this Deep South stronghold, and his reaction to that loss, would help cost Republicans the U.S. Senate as well. Georgia was Trump's last stand.

On Air Force One, President Trump was in a mood. He had been clear he did not want to return to Georgia, and yet somehow he'd been conscripted into another rally on the night of Jan. 4.

Chuck Schumer is now majority leader as 3 new Democratic senators are sworn in

Sen. Chuck Schumer (D-N.Y.) is officially Senate majority leader after the inauguration of Vice President Kamala Harris and the swearing-in of new Sens. Alex Padilla (D-Calif.), Jon Ossoff (D-Ga.) and Raphael Warnock (D-Ga.).

Why it matters: With a 50-50 Senate, Schumer will control a narrow majority with Harris as the tie-breaking vote. Democratic control of the Senate is crucial to President Biden's agenda, from getting his coronavirus relief proposal passed to forgiving student debt.

Off the Rails

Episode 8: The siege

Photo illustration: Aïda Amer/Axios. Photos: Mandel Ngan/AFP via Getty Images

Beginning on election night 2020 and continuing through his final days in office, Donald Trump unraveled and dragged America with him, to the point that his followers sacked the U.S. Capitol with two weeks left in his term. Axios takes you inside the collapse of a president with a special series.

Episode 8: The siege. An inside account of the deadly insurrection at the Capitol on Jan. 6 that ultimately failed to block the certification of the Electoral College. And, finally, Trump's concession.

On Jan. 6, White House deputy national security adviser Matt Pottinger entered the West Wing in the mid-afternoon, shortly after his colleagues' phones had lit up with an emergency curfew alert from D.C. Mayor Muriel Bowser.