The latest round of campaign finance reports reveal that the race for governor is very real and very competitive. It’s more evidence to support those recent opinion polls showing Gov. Phil Scott and Democratic challenger Amanda Janoo are in a tight race.

What’s truly remarkable is that Janoo is now in a virtual tie with Scott in cash on hand. Reminder that she began September at a huge disadvantage: Scott $307,000, Janoo $59,000. Now Scott is reduced to a statistically meaningless edge: $296,000 to $280,000.

Janoo outraised Scott in September, $291,000 to $223,000. She also spent far less, $70,000 to Scott’s $234,000. (As previously reported in this space, Scott spent heavily on TV and digital ads in September, with five ad buys totaling more than $150,000.)

Those figures are pocket change by normal gubernatorial standards. But they mean that Scott can’t simply spend Janoo into oblivion. Even if he turns on the fundraising afterburners, time’s running short to spend effectively — and early voting is already underway.

Scott benefited from a lot of large donations: 72 gifts of $1,000 or more, and 18 maximum donations of $5,180. Those max donors included three people named Tarrant, four people named Lauzon (including Thom, the mayor of Barre), Lauzon’s business partner Fred Oeschger and his wife Joyce, and two Lauzon/Oeschger businesses, 47 North Main Street LLC and Derf Realty Corporation.

Janoo received lots and lots of donations of all sizes, another sign that people are engaging with her campaign. She got quite a few large gifts from prominent Democrats and frequent donors including Jane and Bill Stetson ($5,000+ apiece), former VDP chair Dottie Deans (campaign total of $2,772), Peter’s brother Jeff Shumlin ($5,000), Jerry Greenfield ($5,000) and Ben Cohen ($5,180), former state rep Sara Coffey ($4,000), former gubernatorial candidate Christine Hallquist (campaign total of $1,842), former governor Howard Dean ($1,000), and former party chair Anne Lezak ($525).

Five politicians dipped ito their own campaign funds to support Janoo: Mike Pieciak’s committee gave the maximum $5,180, Peter Welch for Vermont gave $4,700*, the campaign of Robin Chesnut-Tangerman gave $900, Burlington House candidate Amy Bielawski-Branch’s campaign fund kicked in $600, and the Committee to Elect Hannah Sessions (Senate candidate in Addison County) donated $500. Numerous current and former officeholders opened their wallets, including Martin LaLonde, Larry Satchowitz, Karen Dolan, Zon Eastes, Emilie Kornheiser, Avram Patt, Shap Smith, Sara Coffey, Peter Clavelle, Anthony Pollina, and Scudder Parker. The VT-NEA Fund for Children and Public Education made a maximum $5,180 gift, and VPIRG Votes gave $4,000.

*Welch also sent a fundraising message to his extensive email list, which was probably more valuable than the cash.

It’s clear that Democrats and Progressives are getting behind Janoo in tangible ways. Even mainstream slash moderate figures are cutting checks. The party is unified behind a gubernatorial candidate for the first time since Sue Minter in 2016.

Here’s another sign that this race is being taken seriously. “Our Vermont” is a PAC operated by the Democratic Governors Association. It was completely inactive in the 2022 and 2024 campaigns,and hasn’t spent significantly since 2016. This year it has raised $92,000, including $40,000 from the DGA and $10,000 apiece from F, Kincaid Perot of Warren VT, Derrick Davis of South Burlington, William Gottesman of Burlington, and Florida resident Robert Stiller. Our Vermont has spent $8,000 on polling. One could infer that the results were favorable to Janoo, and that the PAC is prepared to spend on her behalf.

I should spare a couple of paragraphs for the lieutenant governor contest. Incumbent Republican John Rodgers had a pretty good month, raising $150,000 in September for a campaign total of $293,000. He’s spent $210,000 so far, leaving him with $84,000 in cash on hand. Democrat Molly Gray has a clear advantage in that category, with $142,000 in the bank despite her heavy spending in a competitive primary with Ryan McLaren. Gray raised $95,000, bringing her campaign total to $507,000, and spent only $27,000 in September. Maybe she thinks she’s got it in the bag? I wouldn’t disagree.

The most generous of Republican donors finally opened their creaky wallets for Rodgers last month. He received $4,000 from Phil Scott’s campaign committee, masimum $4,480 gifts from Thom and Karen Lauzon, Fred Oeschger. Jason Sicard of Barton, and the Republican State Leadership Committee Vermont PAC. Kicking in $4,000 were Burlington real estate firm WIlls Two LLC and Casella Waste Management. Jerry Tarrant donated $3,000. That’s still a lot less money than Rodgers received from core Republican donors than in 2024.

I have yet to look into legislative campaign finance reports, but to judge from the only two competitive statewide races, things are looking up for the Democrats in 2026. Much work remains to be done, but there’s a glimmer of light at the end of the tunne.