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The U.S. Capitol dome and American flag in Washington, D.C. File photo.
Trump and Bloomberg Increase Spending Ahead of US Midterm Elections
WASHINGTON — October 20, 2026
US President Donald Trump says he has spent or plans to spend more than $400 million supporting Republican campaign efforts before the November 3 midterm elections. Former New York City Mayor Michael Bloomberg is also directing about $80 million toward Democratic candidates, according to a report by The New York Times.
The spending comes as Democrats seek to take control of Congress from Trump's Republicans. The election will determine which party holds power in the House of Representatives and Senate during the remainder of Trump's presidency.
Trump announced his planned spending in a social media post on Tuesday, saying more than $300 million had already gone toward advertising, voter outreach, campaign rallies and efforts to increase turnout. He also included election integrity programmes and other campaign activities in the total.
Campaign finance filings show that MAGA Inc., Trump's main super political action committee (super PAC), and an affiliated group called No Going Back PAC had spent at least $226 million on the elections so far. Super PACs can raise and spend money to influence elections, although they operate under rules governing their relationship with candidates and campaigns.
Bloomberg, a billionaire businessman and former mayor of New York City, was reportedly directing around $80 million to Democrats during September and October. His office did not immediately respond to a request for comment.
At least $50 million of Bloomberg's reported contribution was intended for House races, according to The New York Times. This included $24 million for Everytown for Gun Safety, a gun-control advocacy organisation that Bloomberg co-founded.
Bloomberg was also reportedly giving $16 million to House Majority PAC, a political group aligned with Democratic leadership in the House of Representatives. The funding is aimed at helping Democrats compete in congressional races as they attempt to win a majority.
The reported spending highlights the role wealthy individuals and political fundraising organisations play in US elections. Large financial commitments can support advertising, voter outreach and other campaign activities, particularly in closely contested races.
However, the figures reported for the two political figures are not based on the same level of independent confirmation. Trump publicly announced his spending plans, while the details of Bloomberg's contributions were reported by The New York Times. The spending attributed to Bloomberg has not been independently verified by Reuters.
With Election Day approaching, both parties are seeking financial and organisational support to strengthen their campaigns. The outcome on November 3 will determine whether Republicans retain control of Congress or Democrats gain the power to challenge Trump's legislative agenda.
