If GOP Congressional nominee Steve Labate (R-Deer Park) is to unseat incumbent Steve Israel (D-Dix Hills) in next week’s elections, he will have to do so at a major financial disadvantage.
Israel is a fundraising powerhouse for the national Democratic party. He has raised more than $3 million this election cycle including about $1.95 million from individuals and $1.05 million from political action committees, according to Federal Election Commission filings.
As the head of the Democratic Congressional Campaign Committee, the arm of the party responsible for winning seats in the House of Representatives, Israel has also spread the wealth to national and state members of the party.
Israel has given $450,000 since the 2010 elections to the DCCC, and $136,000 to the New York Democratic Party. He gave an additional $20,000 to the New York State Democratic Assembly Campaign Committee, contributing to Democratic efforts to hold their majority in Albany’s lower legislative body.
The fundraising disparity between Israel and Labate is sharp. Israel has $577,000 cash-on-hand – more than twice what Labate has raised overall this election cycle.
Labate has taken in $277,000 since announcing his candidacy, according to FEC reports, and has $81,318 in cash-on-hand.
Nearly all of that has come from individual donors, which is in keeping with the advantages in PAC fundraising typically held by incumbents.
But Labate has received contributions from some notable PACs.
Citizens United Victory Fund, the PAC offshoot of the group whose lawsuit led the Supreme Court to abolish limits on political contributions by individuals, corporations and unions, gave Labate’s campaign $5,000.
Labate also received $2,000 from Afghanistan and Iraq Veterans for Congress, a group which promotes the election of conservative Republican veterans.
Israel, with his larger donor base, drew major support from the employees and PACs of several industries.
The real estate industry was Israel’s top benefactor, according to data from the Center for Responsive Politics. Employees in the industry gave $160,150 to his campaign, and real estate PACs gave $46,500.
Israel also received six-figure contributions from PACs and employees in the securities and investment, law and health care industries, according to the Center.
