No one besides us pathological Vermont Political Observers will have noticed, but July 1 was not just Bobby Bonilla Day, it was also a milestone in the 2026 gubernatorial campaign: the only campaign finance filing deadline in the year 2025. In fact, the next deadline isn’t until March 15, 2026 — not much more than two months shy of the filing deadline for major party candidates. But then, we do love our myth that nobody runs for office until June of an election year.

In other words, it’s going to get late early. Which makes it especially disappointing for campaign finance sickos (raises hand with pride) that Tuesday’s deadline produced no hints whatsoever about the race for governor in 2026.

Going into the day, I was expecting that Treasurer Mike Pieciak might report a decent-sized pile, like in the hundreds of thousands of dollars, if only to pre-empt a potential flood of Democratic candidates and an unpredictable dogpile primary á la 2010, when Jim Douglas was retiring and an entire generation of Democrats entered the race. Well, five Democrats, anyway. Four of ’em finished within four percentage points of each other, and Peter Shumlin won (by two-tenths of a percent over Doug Racine) with less than one-quarter of the vote. And we all know how that turned out (cough) EB-5, single payer health care, Scott Milne (cough).

I’m allowing myself a little historical tangent because it’s much more interesting than the great big nothing we got in Tuesday’s filings. The details follow. If you like disappointment, read on.

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