Schmitt has record-breaking quarter

Saint Louis, Mo. — State Senator Eric Schmitt announced one day into the new quarter that he would be running for treasurer in 2016. Since then, he’s accumulated more cash than any other down ticket candidate this early in the race in the state’s history, and is likely clearing the primary field early.

Schmitt has a whopping $1.58 million in the bank. The state senator from St. Louis has more cash on hand than almost any other elected official in Missouri. Schmitt is sitting on a bigger war chest than 2016 gubernatorial-hopeful Catherine Hanaway, State Auditor Tom Schweich, Attorney General-hopeful Sen. Kurt Schaefer or former House Speaker Tim Jones.

“I’m extremely grateful for the outpouring of support, and I’m humbled by the positive responses I’ve gotten,” Schmitt told The Missouri Times.

2016 may feel like an eternity away for those in the Missouri legislature currently locked in close elections. But Schmitt’s early financial commitments paint the picture of politician looking to clear his primary field as far ahead of time as possible.

“Never before has a Missouri statewide candidate in a down-ballot race raised this much, this early, or had this much cash on hand two years ahead of the general election,” said Rich Chismer, a spokesperson for Schmitt. ”It shows that there is overwhelming support for Eric Schmitt and that he will have the resources necessary to run a successful statewide campaign.”

Dave Plemmons, Missouri Right to Life PAC President, said he was impressed with Schmitt’s quarter.

“We appreciate Senator Schmitt and it’s obviously an impressive quarter,” Plemmons said. “It’s always encouraging to see statewide pro-life candidates do so well.”

Not only has no other similar candidate raised as much as Schmitt has, the competition isn’t even close. No candidate has for a statewide down ticket office has ever had so much as $500K in the bank two years prior to an election. Schmitt’s fundraising is doubly impressive given the relatively small number of “big ticket” donors on the list. With the exception of a single $250K donation from mega-donor Rex Sinquefield, the overwhelming majority of Schmitt’s checks are coming in increments under $10,000.

Sinquefield’s donation is telling, though, according to ProgressMO Executive Director Sean Nicholson.

“A full one-third of the money he is bragging about is from Rex,” Nicholson said. “It certainly looks like [Sinquefield] is putting together his slate of candidates for 2016.”

Nicholson said that while fundraising was happening earlier and earlier between election cycles, the real problem in Missouri was the lack of appropriate campaign finance regulations.

“I don’t think it’s an issue raising money so early,” Nicholson said. “The issue is we don’t have the campaign finance laws that Missouri voters wanted because the Missouri legislature overturned them. We ought to have campaign contribution limits, which the voters want.”

Democrats, who have a long list of “maybe” candidates for the office – but nobody with a publicly declared interest, will need to field a good candidate with fundraising chops to compete with Schmitt’s early haul.