At $39,000 Raised, Pallotta Reports Another Disastrous Fundraising Quarter
Republican Frank Pallotta, a second-time candidate for New Jersey’s 5th congressional district, said he raised just $38,650 in the first quarter of 2022, a continuation of the trolling fundraiser which plagued his rematch campaign.
Pallotta has $83,216 in cash, which is actually down from the $97,801 price he fetched at the end of 2021.
In total, Pallotta has raised $250,740 since launching his campaign in April 2021. That’s less than the $406,522 his most prominent opponent in the Republican primary, U.S. Navy veteran Nick De Gregorio, lifted in just one unique fundraising quarter last year (De Gregorio has yet to publish his most recent report).
It also pales in comparison to the totals posted by Rep. Josh Gottheimer (D-Wyckoff), the human fundraising machine, whom Pallotta hopes to face again after losing 53-46% in 2020. Gottheimer reported raising a megalodon $1.2 million last quarter, and is sitting on a warchest of over $13 million.
Above all, Pallotta has the ability to be self-financing; in his 2020 campaign against Gottheimer, investment banker Mahwah gave his campaign $1.4 million. But Pallotta has yet to invest his own money in this year’s race, and it’s unclear whether he intends to do so before the June 7 primary.
De Gregorio has the Bergen County line this year, while Pallotta has the Passaic County line and the support of Sussex County Republicans. A third candidate, Fred Schneiderman, has hinted that it would be self-financing to a large extent and is somewhat of a wild card in the primary.
Whoever wins the primary will start as an underdog against Gottheimer, both due to the huge amount of money Gottheimer has at his disposal and due to the Democratic tilt of the new 5th District; the congressional redistricting added more Bergen County to the district and moved it about seven points toward the Democrats.