Katie Hobbs sets up $7.4M campaign operation, shrinking cash lead over Andy Biggs

Gov. Katie Hobbs spent $7.4 million in the spring, far more than the $1.7 million she raised, draining most of a war chest that topped $7 million in April and leaving her with roughly $1.4 million heading into the July 21 primary.

The new campaign finance records show Hobbs’ campaign spent almost all of that on operating expenses.

Hobbs’ campaign pointed to bipartisan endorsements as evidence of broad support, announcing this month that Republican business leaders John Graham of Sunbelt Holdings and Sharon Harper of Plaza Companies had backed the governor.

“Arizona succeeds when the government works with the private sector,” said Hobbs in a statement.

Republican frontrunner Biggs narrows the fundraising gap

Rep. Andy Biggs, the frontrunner in the Republican primary, raised about $917,000 in the second quarter of 2026, his best of the cycle, and spent $770,000.

He ended June with $1.27 million on hand and no debt, narrowing what had been a wide cash gap with Hobbs to roughly $150,000.

His campaign called Hobbs’ burn rate “disastrous,” though Hobbs has still raised more total money than any candidate in the race at $9.5 million for the full cycle.

Biggs’ donor base is built on small-dollar contributions from retirees across the country, many giving under $50. Hobbs drew larger individual donations, including several gifts of $3,000 or more.

Rep. David Schweikert, Biggs’ closest primary rival, raised $127,000 and ended the quarter with just $42,000 in cash. Recent polls show Biggs leading Schweikert by 30 points among Republican primary voters.

Independent candidate Hugh Lytle reported $1.08 million in receipts but has loaned his campaign $2 million out of pocket. He polled at about 5% in recent surveys.

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