SANTA FE – Republican Gov. Susana Martinez has stockpiled nearly $3.3 million for her reelection campaign, giving her a significant fundraising advantage over Democratic challenger Gary King, according to financial reports filed Tuesday. King had cash on hand of $142,441 in his campaign account as of Oct. 7.
Martinez raised $2.1 million for her reelection during the past six months, while King collected $175,145. No campaign finance report was immediately available for Democratic state Sen. Linda Lopez, who has announced plans to run for governor.
Candidates for state office and political committees faced a Tuesday deadline to submit campaign finance reports to the secretary of state’s office. The Martinez campaign spent $367,376 from April through early this month, while King had expenditures of $135,491.
Martinez raised about $7 million for her 2010 primary and general elections. But state law has changed since that election and New Mexico now limits campaign contributions. Individuals and political action committees can give up to $5,200 per election to a statewide candidate – $10,400 for the primary and general elections. Candidates for governor previously could accept unlimited amounts from contributors.
Among the contributors giving the maximum to Martinez – $10,400 – were Intrepid Potash, which operates a potash mine near Carlsbad, and Robert Jornayvaz, the company’s chairman of the board. Congressional Republican leaders also were major donors to the governor. U.S. House GOP Whip Kevin McCarthy gave $10,400; House Majority Leader Eric Cantor contributed $5,000; and Wisconsin Rep. Paul Ryan, the 2012 vice presidential nominee, gave $10,400.
King’s top donors included Dallas trial lawyer Russell Budd and his wife, Dorothy, who gave a combined $20,000. Pojoaque Pueblo and one of its corporations contributed $10,000.
Since taking office in 2011, Martinez has collected about $3.8 million in monetary and in-kind contributions for her reelection. King has raised almost $429,000 since last year when he entered the race, including personal loans of about $45,000.
In the race for attorney general, Democrat Hector Balderas reported cash on hand of $415,185 in his campaign for the Democratic nomination. Balderas, a two-term state auditor, raised $218,135 in the past six months and spent $40,728. He is the only candidate who has publicly announced for attorney general next year.
Attorneys and law firms were a top source of campaign contributions for Balderas, accounting for about $88,000. A national law firm that handles class-action securities litigation and other lawsuits, Grant and Eisenhofer, contributed $10,000. The firm’s co-founders and the wife of one of the lawyers gave a combined $15,000.
Labor unions contributed about $22,000 to Balderas, including $10,400 from a political committee of the American Federation of Teachers-New Mexico.