Steve Pearce, left, and Harry Teague (Photos by Heath Haussamen)

Both candidates will be well funded, analyst says, so the Teague/Pearce matchup is about ideas, not cash

When he recently announced his third-quarter fundraising, U.S. Rep. Harry Teague, D-N.M., was quick to point out that he had about $300,000 more cash on hand at the end of September than his challenger, former U.S. Rep. Steve Pearce, R-N.M.

Pearce, on the other hand, was quick to point out that he raised about twice as much as Teague from July to September – his first fundraising quarter in the race.

The reality is that both campaigns will be well funded in what’s expected to be one of the top U.S. House contests in the nation next year, political analyst Jose Z. Garcia said. Because of that, it’s important to not try to read too much into the fundraising numbers from one quarter, regardless of how either campaign spins them.

Both candidates have high name recognition and “exceptional capacities between now and a year from now to raise money,” Garcia said.

“If one of them falls a little bit behind in money, they’re going to race to their respective parties and have some more fundraisers, and the leadership of both parties are going to help them because it’s a critical race,” said Garcia, a Democrat and government professor at New Mexico State University. “Both of them are going to have lots and lots of money.”

Because of that, Garcia said the 2nd District race will be more about whose ideas resonate with voters than who has more money.

“People are going to be listening very carefully to Teague and his explanation of his votes, and Pearce and his criticism of those votes, so it’s going to boil down to who’s more persuasive,” he said.

Still, Garcia acknowledged that there is some interesting information that can be learned from the candidates’ finance reports.

Teague, according to his report, had $257,248.93 in total receipts from July to September. That included $133,491.50 from individuals, $119,550 from political action committees and $4,200 transferred from a joint fundraising committee for all three Democratic U.S. House members from New Mexico.

Teague has been raising money for re-election all year, and he ended the quarter with $757,376.90 on hand.

Pearce, according to his report, had $507,865.06 in total receipts from July to September – his first fundraising quarter in the race. That included $452,395.06 from individuals and $55,450 from political committees.

Pearce ended the quarter with $459,612.80 on hand.

PAC contributions

In a news release, the Pearce campaign was quick to point out that 89 percent of Pearce’s fundraising during the quarter came from individual contributions, and 80 percent came from New Mexico residents. By contrast, the Pearce campaign said, about half of Teague’s contributions came from “Democrat colleagues and out-of-state special interest groups.”

“I am humbled by the outpouring of support I have received from New Mexicans who share my vision to create jobs and to put an end to reckless government spending,” Pearce said in the release.

Andrew Stone, spokesman for the Democratic Congressional Campaign Committee, had a different take.

“The fact that professional politician Steve Pearce was able to put together a good quarter is hardly a surprise,” he said. “After six years as a Washington insider, helping to create our current economic crisis by growing the federal debt by $2.3 trillion and developing a longstanding reputation for boundless hypocrisy, Pearce knew a few people he could call.”

Josh Geise, executive director of the Democratic Party of New Mexico, said Pearce shouldn’t criticize Teague for taking money from political committees and congressional leaders.

“Pearce’s accusations are a dog that just isn’t going to hunt. He’s accepted over $2.8 million in PAC and leadership contributions over the years, so he must not think they are that bad,” Geise said. “We’re not surprised by the political double talk from a career politician.”

Garcia said he doesn’t see Pearce’s attacking Teague for taking PAC money as “a very strong argument.”

“It’s purely a matter of the incumbency. When you’re an incumbent you can pick up the phone and call PACs and get money,” he said, adding that Pearce did it too when he was the incumbent.

The Las Cruces/Hobbs money

Also noteworthy: Teague raised more money than Pearce in Las Cruces, the most populous city in the district, but Pearce outraised Teague in Hobbs, the hometown of both candidates. Hobbs is the center of the oil and gas Mecca on the east side of the district and critical to the 2nd District race, but Las Cruces has become a Democratic stronghold in recent years and has the potential to deliver a lot of votes.

The fact that Pearce was more successful during the quarter in the Hobbs area may not be a surprise. Many in the oil and gas industry are unhappy with Teague, whose support of controversial cap-and-trade legislation was instrumental in helping it pass.

“Harry Teague’s lackluster fundraising in Hobbs is yet another signal of the growing dissatisfaction with his performance in Washington,” Pearce spokesman Paul Ciaramitaro said. “The voters in his hometown don’t appreciate his support of job-killing policies and excessive government spending.  And many can’t stomach the way in which he’s faithfully served his liberal Democrat leaders like Nancy Pelosi.”

State Republican Party spokeswoman Janel Causey added this:

“It is a tough sell to ask New Mexicans to contribute to your campaign when you have just voted to increase their taxes,” she said.

As for Teague’s fundraising advantage in the Las Cruces area, Ciaramitaro said the Pearce campaign “has not yet begun our full fundraising push there,” having held “only one small donor event in Las Cruces that was a big success.”

The Democrats interviewed for this article didn’t specifically discuss the Las Cruces and Hobbs money. But Teague spokeswoman Sara Schreiber said of Teague’s overall fundraising that the congressman remains focused on “constituents that need help and people to represent.”

Still she said, “Congressman Teague has said that he is committed to raising the necessary resources to continue representing the people of the 2nd congressional district.  … As with many of the other achievements in his life, Congressman Teague has always done the work to get the job done. The 2010 election cycle will be no different.”

What analysts are saying

Stuart Rothenberg, editor of the Rothenberg Political Report, recently listed Teague as one of the Democratic House members who is “at greatest risk” of being defeated next year. And CQ Politics recently changed its analysis of the 2010 race from “Leans Democratic” to “Tossup.”

“Pearce’s $500,000 fundraising tally in the year’s third quarter just underscores what a slugfest the 2nd District race is shaping up to be ,” the CQ article states. “… Teague is working hard to prove that he is that rare breed of conservative-style Democrat who fits his Republican-leaning district, but the GOP is not going to make it easy.”

Garcia said Teague’s greatest strength is that, because he’s a Democrat and Democrats control Washington, “he has a better chance of bringing the bucks back home” – an argument that has historically resonated with voters in New Mexico.

Pearce, by contrast, is able to argue that he “is more in tune with the conservative vibrations in the district and can do a better job representing those conservative interests,” Garcia said. So Pearce can energize those who are upset with President Barack Obama, cap and trade and health-care reform.

The bottom line?

“I expect it to be a very close race,” Garcia said.