Gov. Tim Walz exits race with $3M to boost Democrats
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Minnesota Gov. Tim Walz ended his bid for a third term with a $3 million campaign war chest, newly filed financial disclosures show.
Why it matters: While he won't be on the ballot, Walz can use the money to boost other Democrats running for office this November.
The big picture: Walz's 2025 fundraising haul — he took in nearly $6 million last year — and cash reserves dwarf the totals reported by the top performers in the crowded GOP primary.
By the numbers: House Speaker Lisa Demuth, 2022 candidate Kendall Qualls and state Rep. Kristin Robbins reported fundraising totals in the $500,000 to $600,000 range.
- MyPillow CEO Mike Lindell and 2022 nominee Scott Jensen each raised over $300,000.
Follow the money: Demuth ended the year with the most cash to spend, reporting a balance of just under $450,000.
- Several other candidates burned through their cash at higher rates: Qualls, who was the first to enter the race last spring, ended the year with just $120,000 in the bank.
- Lindell, meanwhile, spent half his haul — nearly $190,000 — buying copies of his own book to give to supporters, per the Minnesota Reformer.
The intrigue: U.S. Sen. Amy Klobuchar, a historically strong fundraiser with a national donor base, didn't file a report because she entered the race after the new year.
What we're watching: A Walz adviser confirmed to Axios that the DFL governor, who recently swore off another run for public office, plans to use his account to help elect other Democrats.
The catch: Any transfers Walz makes to other candidate committees would be subject to campaign contribution limits, Minnesota Campaign Finance and Public Disclosure Board executive director Jeff Sigurdson told Axios.
- Those donations would also reduce the amount candidates can accept from the DFL Party committees.
Yes, but: There's no limit on how much he can transfer to the state party, which can spend the money on field staff, mailers, TV ads and more to support their side.
- Other options for drawing down the balance include donating to charities or refunding donors.