Vern Buchanan holds 3-to-1 cash advantage over Eddie Spier

Vern Buchanan.

U.S. Rep. Vern Buchanan raised more than $165,000 in the fourth quarter of 2023. That far eclipses the less than $12,000 raised by his GOP Primary opponent over the same time.

But thanks to a $500,000 investment in his own campaign, Bradenton Republican Eddie Spier closed the year with more than $489,000 in cash on hand. Depending how much he’s ready to spend, it could press the incumbent to tap into his own war chest.

On that front, Buchanan appears ready to face a threat. His campaign reported nearly $1.57 million in cash itself, much of that amassed before this election cycle.

Spier announced in June he would run against Buchanan, who is seeking his 10th term in Congress. But since that point, he’s only pulled in about $22,000 in outside funding. The $500,000 candidate loan invested at the beginning of the campaign remains the chief contribution to his coffers.

He’s also invested about $95,000 into campaign costs to date.

Buchanan, the wealthiest member of Florida’s House delegation, has shown a willingness to bankroll competitive campaigns. But his campaign account today remains debt-free.

He serves now as Vice Chair of the powerful House Ways and Means Committee, and was in contention for Chair heading into the current Congress.

He’s already spent more than $970,000 on his re-election campaign. The fundraising activity through the end of the year shows his plans to stay in his seat.

Buchanan last year fended off a Primary challenge from Martin Hyde, winning a massive 86% of the vote in Florida’s 16th Congressional District, running under the same district lines.

He cruised to re-election after that over Democrat Jan Schneider, who is again running this cycle.

But Schneider has done little fundraising to date this time around, and none in the fourth quarter. She’s raised $850 through the course of the cycle.

With funding from prior cycles, she closed the year with about $32,000.