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Wisconsin's open gubernatorial race has emerged as a flashpoint for campaign finance discussions, with Republican candidates openly discussing the staggering sums needed to compete. U.S. Rep. Tom Tiffany told PBS Wisconsin his campaign is "budgeting to raise $40 million" for the Republican primary alone. His opponent, Washington County Executive Josh Schoemann, predicted that "all in," both Republicans and Democrats could spend $250 million during Wisconsin's governor's race, calling it "embarrassing".
Both candidates acknowledged they would need to raise between $20-40 million just to survive the August 2026 GOP primary. This arms race reflects Wisconsin's "billionaire loophole"— a 2015 change to state campaign finance law that allows unlimited contributions to political parties, which can then transfer unlimited amounts to candidates. Ironically, Tiffany voted for this change as a state legislator, and now says "you can cry about it, or you can compete".
The astronomical fundraising targets underscore how campaign costs continue to spiral at both federal and state levels, pricing out candidates without access to wealthy donors or personal fortunes.
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