Can $1 billion buy victory in the midterm elections? Some Republicans fear the answer is no

President Donald Trump dances at a campaign rally at the Pinnacle Bank Expo Center, Monday, Oct. 5, 2026, in Grand Island, Neb. (AP Photo/Charlie Riedel)

WASHINGTON (AP) — Republicans are entering the final month of the midterm campaign increasingly anxious that the $1 billion at their disposal may not be enough to fend off sweeping losses as the party reckons with President Donald Trump’s unpopularity, persistent cost concerns and the fallout from the war in Iran.

The cash advantage, spread out across a half-dozen groups, is driven largely by the Trump-aligned MAGA Inc., which had nearly $416 million in cash on hand at the end of August and began stepping up its spending on critical races in September.

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