Wes Moore holds nearly 48-to-1 cash advantage over Dan Cox in Maryland rematch

ANNAPOLIS, Md. - Maryland Gov. Wes Moore holds an overwhelming financial advantage over Republican Dan Cox as the two prepare for a rematch of their lopsided 2022 contest, according to newly filed campaign finance reports with the Maryland State Board of Elections.

Moore’s campaign ended the latest reporting period with nearly $6.5 million in cash, compared with approximately $136,000 for Cox — a nearly 48-to-1 advantage for the Democratic incumbent.

Financial snapshot Figures cover June 8 through Aug. 18:

• Starting balance Wes Moore (D): $6,519,106 Dan Cox (R): $30,346
• Net contributions Wes Moore (D): $1,727,122 Dan Cox (R): $162,512
• New loans Wes Moore (D): $0 Dan Cox (R): $11,855
• Net expenditures Wes Moore (D): $1,752,675 Dan Cox (R): $68,621
• Ending cash Wes Moore (D): $6,493,553 Dan Cox (R): $136,092
• Outstanding obligations Wes Moore (D): $0 Dan Cox (R): $147,889

Moore raised more than 10 times as much net money as Cox during the reporting period and spent more than 25 times as much. Despite spending nearly $1.75 million, Moore’s cash balance fell by only about $25,500, leaving his $6.49 million war chest almost untouched.

Cox’s report contains one encouraging sign for the Republican: his cash balance grew from roughly $30,000 to $136,000 during the period as contributions and new borrowing outpaced spending.

But the campaign reported approximately $145,450 in outstanding loans and another $2,439 in obligations. Taken together, those obligations exceed Cox’s cash balance by roughly $11,800.

The filing shows Cox spending at a far smaller scale, with larger expenses including yard signs, a $5,100 television expenditure, campaign staff and accounting.

The reports illustrate the difference:

• Moore recorded approximately 18,000 monetary-contribution transactions, compared with 657 for Cox.
• About 78% of Moore’s transactions were for $25 or less, reflecting a large small-dollar operation.
• Moore also reported 74 separate $6,000 donations, the maximum under Md. law; Cox reported four.

Moore defeated Cox by more than 32 percentage points in 2022, winning nearly 1.3 million votes to Cox’s 644,000 — a margin of almost 650,000 votes. Official Maryland results

Cox secured this year’s Republican nomination with 43.3% in a crowded primary, while Moore won the Democratic primary with 88.3%. Official 2026 primary results