Fifteen-term Rep. Ed Towns is losing the money war to Assemblyman Hakeem Jeffries — and has only $11,000 on hand against an upstart candidate who raised more than $150,000 in his first cash push.
Towns did raise $69,258 in the quarter, but spent $107,742 in that same period, dropping his cash on hand to levels so low that some wags are saying that he may just be retiring quietly.
Jeffries, meanwhile, has had few campaign expenses as he began his first fundraising push.
“We’ve gotten off to a very strong start, and greatly appreciate the tremendous support that we have received throughout the community and beyond,” said Jeffries.
The filings are the first clear sign that Towns, who has been a prodigious fundraiser, thanks to corporate money, has a fight ahead of him.
But Chris Owens, a Democratic district leader in Towns’s district, said that it’s still to early to say whether Towns is in trouble.
“It’s not cash on hand right now that counts, it’s cash on hand next May or June that counts,” he said.
Towns raised $1.6 million last year in his last race, easily trouncing Kevin Powell.
“If people believe that he isn’t going to raise a lot of money, they’re fooling themselves,” said Owens.
A spokesman for Towns did not return an e-mail requesting comment.
Others backed the assertion that Towns still has plenty of time left.
“Towns is on track to raise $1 million,” said one Democratic operative. “[Jeffries] is going to need $700,000 to $1 million to take Ed down, but he has a chance. He’s going to make Ed work.”