See who hit threshold as Connecticut governor hopefuls seek campaign financing. There are millions at stake

Christopher Keating, Hartford Courant on Jan 12, 2026

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With only four months before nominating conventions, Republican candidate for governor Ryan Fazio said Monday that he has passed the threshold needed to qualify for public financing.

Fazio said he has raised $272,000 so far, including $114,000 in the just-completed quarter and $157,000 in the previous quarter. His contributions must be verified by the State Elections Enforcement Commission before he becomes eligible for about $3.2 million for a primary, including about $800,000 in pre-convention money.

Former New Britain mayor Erin Stewart already qualified for the financing last week as the fastest candidate in state history to be certified in the gubernatorial race. At the Republican convention in mid-May at the Mohegan Sun casino, candidates need 15% of the convention delegates to qualify for the August primary.

While Stewart was the first to be awarded the money by the elections commission, Fazio says that he raised more money than Stewart in fewer days.

“The continued record-breaking momentum behind our campaign is deeply gratifying and energizing,” Fazio said Monday.

“Connecticut voters are ready for positive change. They are ready for leadership that will finally cut our sky-high electric rates and taxes, support our law enforcement, defend local control, and create opportunity for every family,” he said. “Our campaign is based on that substantive change and that’s exactly the reason for our momentum.”

On the Democratic side, two-term incumbent Gov. Ned Lamont said Monday that he would self-finance his campaign and would not accept public financing. In the last race in 2022, Lamont spent more than $25 million of his own money as he defeated Republican Bob Stefanowski, a second-time candidate who spent $14.5 million of his own money in a losing effort.

This year, Lamont is battling against state Rep. Josh Elliott, a liberal Democrat from Hamden who is challenging Lamont from the left on issues that include taxes and spending. Elliott said Monday that he has raised $85,000, which lags behind the Republicans and Lamont.

“We’ve got about $250,000 to go to reach our next goal, but we’re seeing real energy and excitement everywhere we go, and the feedback has been overwhelmingly positive,” Elliott said Monday.

Elliott was raising money right up until midnight on New Year’s Eve, and he texted his supporters to ask them for their crucial end-of-quarter contributions.

“Before you head out for NYE celebrations, I need to tell you why tonight’s end-of-year deadline is critical to our campaign – and why I need you to pitch it,” Elliott wrote. “Campaign numbers go public. Labor unions, advocacy groups, and the press are watching to decide who to support in 2026. … Strong numbers prove our ability to fight and win. With a fully-funded campaign, we’ll be unstoppable. … I’m ready to get the job done. Are you with me?”

Republicans

Fazio has touted his accomplishment of raising a record-setting $157,233 in just 49 days when he started the campaign. In addition to the individual campaigns, millions of dollars in outside money are expected to be spent by groups such as the Republican Governors Association and the Democratic Governors Association, among others.

When Lamont was asked Monday by a television reporter if he would ask the Democratic Governors Association to remain out of Connecticut because he is concerned about too much outside money in the campaign, Lamont responded, “I don’t know. I’ll get back to you on that.”

The biggest wild card at the moment is whether former New York Lt. Gov. Betsy McCaughey, who has a home in Greenwich and an apartment in Manhattan, would run for governor in Connecticut. McCaughey, which is pronounced as McCoy, is a frequent guest on CNN on a variety of political topics. State party chairman Ben Proto said that he spoke to McCaughey recently and expects her to make a final decision about running “in the relatively near future.”

Lamont started the campaign with an advantage as a two-term incumbent with far more name recognition and substantially more money than his opponents. A multimillionaire from Greenwich, Lamont has spent more than $60 million of his own money on four statewide races that include his first major contest for the U.S. Senate against Sen. Joseph I. Lieberman in 2006.

While he traditionally funds virtually his entire campaign, Lamont has been sending emails to supporters in order to raise a relatively small amount of money in order to show momentum.

“We’re trying to raise as many small-dollar donations as we can to show we’ve got broad-based support,” Lamont told reporters Monday in Rocky Hill.

In the short-term, Lamont could face a possible Democratic primary in August against Elliott. Under the state’s campaign financing law, Lamont’s opponent is expected to have more than $15 million in public funds for the general election in November 2026 as the total has increased since campaign costs have skyrocketed in recent years. That total would be in addition to $3.2 million for the primary.

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