ALBANY, N.Y. | New York Sen. Charles E. Schumer has a mountain of campaign cash for a re-election race expected to present little more than a speed bump, allowing him to share some of his wealth with imperiled Democrats.
The prolifically ambitious senator’s $23.2 million on hand at last filing made him more flush than some of his Democratic colleagues facing much tougher re-election challenges, able to spend $2,100 for every dollar spent by his Republican opponent.
What does a politician awash in so much money do?
Mr. Schumer has dipped into the account for recent campaign TV ads. But he also sent a portion of his millions to help fellow Democratic senators and, to a lesser extent, New York House members who could be in tight races during what is expected to be a punishing election for President Obama’s party.
“When you have a whole lot of money and can afford to give some of it away, that type of political charity will win you friends, help you build influence with your colleagues,” said Dave Levinthal, spokesman for the Center for Responsive Politics, a Washington-based research group that tracks money in politics.
Mr. Schumer’s largesse comes amid speculation that he could be jockeying to become the next Senate majority leader if the man who currently holds the job, Sen. Harry Reid of Nevada, loses in November. Mr. Reid is in a tight race against his Republican opponent, former state lawmaker Sharron Angle. Mr. Schumer is a close ally of Mr. Reid and has steadfastly declined to address such speculation.
Mr. Schumer is largely credited as the architect of Democratic wins in 2006 and 2008 when he was chairman of the Democratic Senatorial Campaign Committee. He has kept a characteristically brisk fundraising pace this cycle, in which he faced no primary challenge and is heavily favored in the general election against Jay Townsend, a political consultant and first-time candidate who trails Mr. Schumer by double digits in the polls. Mr. Schumer’s $23.2 million on hand reported in his latest campaign filing last month compares with Mr. Townsend’s $11,000.
Mr. Schumer’s recent campaign spending - and how much money he’s hanging on to - will be a little more clear when the next federal filings are released in two weeks. But it looks so far like Mr. Schumer has been able to take advantage of his role as a master fundraiser without an apparent threat to enjoy the best of two worlds: He can help allies while maintaining a big financial cushion for re-election.
How much Mr. Schumer will open the spigots on his campaign account in the next remaining four weeks is still unclear, though he has begun airing four TV ads in the pricey New York City market and elsewhere in the state touting what he’s done for New Yorkers in his two Senate terms. Mr. Schumer’s campaign would not divulge the cost, though a political ad buyer said the initial buy for the first ad was more than $500,000 for the first week.
He’s also spreading at least some of his dollars around.
Campaign filings through the end of August show Mr. Schumer transferred $1 million to the DSCC that month. Committee spokesman Eric Schultz confirmed that Mr. Schumer transferred another $1 million after the latest filing deadline, a transaction first reported by the website Politico. Mr. Schumer’s transfers are the largest from any senator’s campaign account to the committee this year, according to the latest federal filings.
Mr. Schumer also gave $25,000 to New York Democrats in July, money that presumably could be used to mobilize voters in that state.