
So March 15 was the first campaign finance deadline (in Vermont) of 2026, and the second won’t come until July 1, mere weeks before the August primary. Yesterday was a big day, in other words, and there were some clear winners in the field. And not necessarily the winners you’d want, if you were to distribute the available Democratic dollars to the top-priority contests.
Which are, to my eye: Running a credible race for governor, rebuilding the state Senate majority, and knocking Lt. Gov. John Rodgers off his perch. It will be no shock whatsoever to learn that the usual Democratic donors seem to be paying little attention to the gubernatorial, and a lot of cash is being funneled into primary contests for safe Democratic seats. The only race where priority and cash are equivalent is in the Democratic race for lieutenant governor.
One saving grace: Many of the top fundraising candidates were drawing, in part, from unique sources of support rather than draining the mainstream Democratic pool. Many of Nikhil Goyal’s many, many donors, for instance, wouldn’t have given to anyone else.
The race for biggest moneybags of March is a virtual tie between Molly Gray and Ryan McLaren, Democratic candidates for lieutenant governor. They each raised more than $150,000, which is awfully impressive. Lookin’ like a red-hot race there.
Biggest moneybags per capita: state Senate candidate Goyal, who raised the eye-popping sum of $86,193.
Much better than expected: Recently declared Democratic candidate for governor Amanda Janoo, who cleared the $80,000 mark. That’s a really strong start, but she still has a ton of work to do.
Highest burn rate: Treasurer Mike Pieciak, who somehow managed to spend close to $60,000 in the early stages of a race for re-election he’s all but certain to win. Much of that cash went to expensive out-of-state campaign operatives. It’s almost as if he’s laying the groundwork for a seemingly inevitable run for governor.
There are your toplines. For those as obsessed with campaign cash as This Observer, more details follow.
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