Senate Majority Leader John Thune (R-SD) speaks with reporters at his office door at the U.S. Capitol in Washington, D.C. on Dec. 1, 2025. REUTERS/Jonathan Ernst
Democrats trying to win back the House just had their biggest fundraising quarter yet. According to Punchbowl News co-founder Jake Sherman, the money shows donors think the party can win.
House Majority PAC and its allied nonprofit, House Majority Forward, raised $230 million in the third quarter of the year, Punchbowl recently reported. HMP President Mike Smith told the outlet it was the groups' best quarter ever.
"This is a huge boon for Democrats as they strive for the House majority amid an avalanche of spending from GOP groups," Punchbowl wrote.
Sherman posted the news on X with a "BREAKING NEWS" label.
The total is more than double what the groups raised in the second quarter, when they brought in a combined $94 million. During the third quarter of the 2024 cycle, they raised $150 million, Punchbowl reported. The two groups have raised $514 million this cycle so far.
"Donors are clearly signaling they believe Democrats have a very strong chance of winning the majority come Election Day," Punchbowl reported.
The fundraising numbers line up with the forecasts. Decision Desk HQ gives Democrats a 72% chance of winning back the House. Meanwhile, Republicans are dealing with low morale. At a Senate GOP donor retreat last week, attendees called their own pollster's forecast "delusional," Axios reported.
The election is Nov. 3.
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