Multi-million-dollar ad buys increase in New Mexico’s closely watched CD2 race

Millions of dollars continue to pour into New Mexico’s closely watched 2nd Congressional District race, according to recent filings from candidates and political action committees. 

According to a Source NM review of campaign records, individual donors and well-financed PACs have spent or promised to spend at least $21.8 million in total this election cycle in the race between incumbent U.S. Rep. Gabe Vasquez (D-N.M.) and opponent Republican Greg Cunningham. 

The funding includes approximately $7.7 million from donors to campaigns and $14.1 million from PACs in the form of independent expenditures, mostly digital, television and text message campaign ads across the district that spans most of southern New Mexico and Albuquerque’s South Valley. 

Vasquez has greatly outraised Cunningham when it comes to individual donors, reporting nearly $5.3 million this election and $1.4 million in the most-recent campaign filing period between late June and late September. Cunningham reported raising more than $850,000 in the most recent period, part of $2.2 million overall. However, the most recent records submitted to the Federal Election Commission do not capture any donations generated by House Speaker Mike Johnson’s Oct. 12 Las Cruces visit for Cunningham’s campaign.

A Source NM review of the individual filings show that nearly two-thirds of Vasquez’s donors in the most-recent period hail from New Mexico, far more than Cunningham, who received approximately one-third of his donations from those with New Mexico addresses. 

The most recent filings also show common donor professions for each campaign. Nearly 100 attorneys donated to Vasquez’s campaign in recent months, for example, and 16 pecan farmers donated to Cunningham. 

The biggest funds in the race, however, stem from political action committee spending.

Cunningham’s campaign told Source NM that PACs will spend at least $8.8 million on advertising for him by the Nov. 3 general election. The investment shows that the race remains “on the map” for Republicans, despite national political observers and recent polling suggesting that Vasquez has the advantage, Cunningham spokesperson Josiah Ward said.

Much of that funding has come from the No Going Back PAC, which MAGA Inc., President Donald Trump’s primary Super PAC, backs. No Going Back has spent at least $1.4 million on advertisements either supporting Cunningham or opposing Vasquez this cycle, according to FEC records. 

Vasquez spokesperson Patricia Socarras Santiago told Source NM in a text message that the amount of Republican spending in CD2 shows that “MAGA elites think they can buy this seat.”

“This race isn’t for sale,” she said. “New Mexicans are fed up with the war in Iran, soaring gas prices, healthcare cuts, and the extremism Cunningham stands for.” 

Independent groups have also reported spending millions of dollars in support of Vasquez’s re-election campaign. This election cycle, groups like the Public Lands Warriors Fund and Workers En Accion Inc. have spent more than $5.5 million on advertisements boosting Vasquez or criticizing his opponent.

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The Ready for the Fight PAC — funded by Democratic Illinois Gov. JB Pritzker — has also spent more than $1.5 million in support of Vasquez, FEC records show. Politico, citing an anonymous source, reported earlier this week that Pritzker intended to invest at least $38 million on campaigns for Black and Hispanic candidates this cycle, including $2.8 million for Vasquez. 

Ward, Cunningham’s spokesperson, said the late infusion of money on Vasquez’s behalf shows the Democratic is on the cusp of losing. 

“That’s not strength,” Ward said in a text message of the recent spending. “That’s panic. On November 3, Gabe’s going to learn that Chicago and DC progressives don’t get a vote here.”