The Texas U.S. Senate race between Democrat James Talarico and Republican Ken Paxton is drawing attention due to their massive fundraising totals, with federal records showing Talarico far ahead in money raised through the campaign accounts that are publicly reported.
But while candidate committees face contribution limits, outside political groups known as super PACs can raise and spend unlimited amounts and those groups can dramatically reshape the financial picture of the race.
What the campaign reports show
Talarico raised $140.3 million from Jan. 1, 2025, through Oct. 14, 2026, while Paxton raised $21.6 million over the same period, according to Federal Election Commission (FEC) data cited in the broadcast script.
Talarico’s $64 million haul in the third quarter was the largest ever raised by a U.S. Senate candidate in a third quarter, according to NBC News. He also set records in the first and second quarters of the year.
For every dollar Paxton raised has raised though Oct. 14 2026, Talarico has raised about $6.50, according to data contained in FEC records.
Individual donors dominate for both candidates
Despite differing perceptions about who relies on which type of donor, both campaigns have raised the overwhelming majority of their money from individual contributions.
FEC data cited lists individual donors as accounting for 99.6% of Talarico’s fundraising and 97.8% of Paxton’s.
The limit for this type of contribution is $3,500, per election. The Primary and the General Elections are counted as two separate elections.
PAC contributions are similar — and relatively small
Direct contributions from political action committees and committees, which are subject to separate limits — make up a much smaller slice of money compared with the overall totals.
As of Oct. 20, FEC numbers show Paxton with $435,150 in PAC/committee contributions and Talarico with $518,805 — an $83,000 advantage for Talarico.
These donors are limited to $5,000 for the primary and another $5,000 for the general election.
Among the PAC contributors listed for Talarico are “Lobo PAC” and “SD PAC” at $10,000 each, “Midwest Region Laborers’ Political League” at $7,500, and “Advancing Democracy and Mobilization PAC” at $7,000, using FEC data available as of Sept. 30, 2026.
For Paxton, “U.S. Anesthesia Partners PAC”, “Senate Conservatives Fund” and “National Association for Gun Rights” PAC at $10,000 each, with the “NRA Political Victory Fund”, “Valero Energy PAC” and “Wine & Spirits Wholesalers PAC” at $5,000 each, using FEC data available as of Sept. 30, 2026.
The Super PAC factor
Super PACs cannot donate directly to campaigns and are barred from coordinating with candidates, but they can raise and spend unlimited sums to support or oppose candidates.
For Talarico, Lone Star Rising PAC is a key supportive super PAC and says it has raised more than $31 million, according to FEC records. LinkedIn co-founder Reid Hoffman has contributed $11.5 million to the group.
For Paxton, Texas PAC is a key supportive super PAC and has raised $158 million, according to FEC records. The script cites the Texas Tribune as saying almost all of that $158 million came from Elon Musk.
There are multiple super PACs supporting each candidate beyond the top groups highlighted.Many of these super PACs are the money engines behind the endless flow of commercials supporting and attacking each candidate.
