Gov. Josh Shapiro outraised his likely GOP opponent Stacy Garrity 10-to-1 in the first quarter of 2026
Six weeks out from the May 19 primary, Shapiro reported $36 million in the bank. Garrity reported $1.5 million on hand — a fraction of Shapiro’s teeming campaign war chest.
Pennsylvania Gov. Josh Shapiro outraised his likely Republican opponent, state Treasurer Stacy Garrity, by 10-to-1 in the first quarter of the year — underscoring the Democratic incumbent’s grip on the race heading into the midterms, while Garrity failed to see a significant bump after receiving a coveted endorsement from President Donald Trump.
Shapiro raised a whopping $10.5 million in the first three months of 2026, while Garrity — who is running unopposed in the May GOP primary — raised $1 million, according to campaign finance reports filed Tuesday.
With seven months left until the November election and largely led by Shapiro’s war chest, the governor’s race has already attracted historic levels of investment compared to the same point in previous Pennsylvania gubernatorial elections.
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Shapiro entered the year with more than $30 million in his campaign coffers. He continued to rake in campaign cash in January, kicking off 2026 with a glossy campaign launch and a national book tour and media blitz that brought him further into the public eye as national Democrats seek a new standard-bearer for the 2028 presidential contest.
Six weeks out from the May 19 primary, he reported $36 million in the bank. Garrity, meanwhile, reported $1.5 million on hand — a fraction of Shapiro’s teeming campaign war chest that Republicans have struggled to confront. The Pennsylvania GOP is counting on Garrity, as the candidate on the top of the ticket, to generate enough enthusiasm among voters to trickle down-ballot to help them maintain control of the U.S. House and state Senate.
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Garrity, the Pennsylvania Republican Party’s endorsed candidate for governor, has less cash on hand heading into the primary than Shapiro’s running mate, Lt. Gov. Austin Davis. Davis, who is running uncontested in the Democratic lieutenant governor primary, had $1.9 million in the bank, Shapiro’s campaign said. (Davis’ report was unavailable for review as of Wednesday afternoon.)
Garrity’s campaign noted that most of her contributions came from Pennsylvanians, totaling more than 6,700 individual contributors. A significant number of small-dollar contributions can translate to grassroots support and voter enthusiasm.
Shapiro, too, received thousands of individual contributions, though an exact number was not immediately available Tuesday.
His largest campaign contributors remained from industry executives in Pennsylvania and across the country. Shapiro’s largest individual contribution for the most recent filing period was a $1 million donation from Silicon Valley investor Christian Larsen. He also received $500,000 from Christopher Barnett, a Temple benefactor whose company owns addiction treatment and behavioral health clinics throughout the country, including in Pennsylvania. Illinois Gov. J.B. Pritzker — another rumored 2028 Democratic presidential hopeful — contributed $100,000 to Shapiro’s campaign. Shapiro received a number of other five- and six-figure contributions from wealthy industry leaders.
Labor political action committees also contributed significantly to Shapiro’s campaign, including $500,000 each from Local 98 International Brotherhood of Electrical Workers and the Greater PA Carpenters PACs.
Garrity’s largest individual contributor was Jay Sykes, who runs Oregon-based cryptocurrency payment company Bead and gave $20,000. Garrity also received several $10,000 contributions from industry executives and top Republican PACs like the Commonwealth Leaders Fund, which is backed by Pennsylvania’s richest man Jeffrey Yass. The Commonwealth Leaders Fund sat out the 2022 gubernatorial election where Shapiro handily bested GOP State Sen. Doug Mastriano, but decided to contribute to Garrity, its president said earlier this year.
In addition to hauling in big fundraising numbers, Shapiro also spent big. His campaign spent nearly $4.6 million this year, more than tripling what Garrity brought in this quarter and more than he spent during all of 2025.
Shapiro’s willingness to spend huge sums of his money — so early in the year and without any challenger in the Democratic primary — also underscores the strong financial position Shapiro’s campaign expects to maintain for the rest of the campaign.
He spent $519,800 on “event management” around the time of his highly produced reelection campaign launch events in January — nearly as much as Garrity spent on her entire campaign for the quarter.
The roughly half-million dollars in event costs went to Weymouth Watson, a Washington, D.C.-based firm that Shapiro used for his glitzy 2023 inauguration and that has produced events for other major clients like the Obama Foundation.
Between January and March, Garrity spent $527,500 on everything — consultants, staff, direct mail, office supplies, travel and more — as she looked to build momentum. Her largest expenses were five-figure payments for “direct mail fundraising” last month.
Shapiro also spent large sums in other areas. That included paying for private flights during the time the governor traveled frequently across the region and country to promote his memoir. He spent a total of $320,280 on Jet-A LLC, a charter operator, a significant cost compared to the $608,700 he spent on the private service for the entirety of 2025.
While Pennsylvania Democrats hope that Shapiro’s popularity gives them a boost down-ballot in November, campaign finance filings show he has made no targeted investments into other races. Filings show Shapiro has continued to financially support the Pennsylvania Democratic Party, investing $275,000 over two contributions between January and March.
Both Shapiro and Garrity also reported receiving in-kind contributions, which are expenses covered by other individuals or groups that are considered donations.
Shapiro, for instance, received a $21,300 in-kind contribution from Local 98 in early March for “catering and printing” expenses. Garrity reported a $9,928 in-kind donation for “fundraising event food and beverage” on March 27, when she hosted a fundraiser at Trump’s Mar-a-Lago Club in Florida, where the president made an appearance.