Neguse Raises 270 Times More Than Dennison in Colorado Race

Glenwood Springs —A 270-to-1 ratio. That is the number that should be making headlines in the race for Colorado’s 2nd Congressional District, not the fact that the race is even close.

On paper, this is a contest between two candidates. In practice, it is a contest between a war chest and a piggy bank. According to filings with the Federal Election Commission, Democratic incumbent Rep. Joe Neguse has amassed over $3.3 million in donations. His Republican opponent, Kelley Anne Dennison, has raised roughly $12,300.

Let’s do the math. Neguse has spent just over $2 million. Dennison has spent $11,261. For context, Neguse’s campaign has spent more than 178 times what Dennison has. And that is before you factor in the sheer volume of money still sitting in Neguse’s account. He has raised nearly 270 times more than his opponent.

The Post Independent reported that Neguse’s funding is diverse, with roughly 57% coming from individual donors. But the rest comes from political action committees (PACs) and corporate-backed groups. One of his largest contributors is Majority Fund, a federal PAC based in Washington, D.C., which has spent roughly $3.1 million supporting Democratic candidates nationwide. Neguse has also received contributions from PACs managed by corporations like Amazon, Walmart, Verizon, and Cox Enterprises. Locally, the Vail Resorts Employee Political Action Committee has backed him.

There is a wrinkle in Neguse’s donor base that deserves attention. He received significant contributions from the American Israel Public Affairs Committee (AIPAC) PAC. The committee donated roughly $240,000 to Neguse through July 2026. However, Neguse voted in favor of a Republican-sponsored amendment to eliminate billions in U.S. military aid to Israel. Following that vote, representatives from Neguse’s office stated he would no longer accept contributions from AIPAC. Whether that relationship is fully severed or just paused remains a question for his campaign to answer.

Dennison, an Estes Park massage therapist, has been candid about her disadvantages. She told the Post Independent in an October email: “I’m running against someone who has the enormous advantages that come with incumbency: money, name recognition and an established political operation. I’m not trying to outspend Joe Neguse. I can’t. I have to outwork him.”

Her largest single contribution came from the Colorado Republican Party, which donated $3,500. That is a drop in the bucket compared to Neguse’s $1.9 million from individual donors alone.

The practical bottom line for locals is simple: Neguse has the resources to run a relentless, high-frequency ad campaign across radio, digital, and mail. Dennison has the resources to knock on doors and hold small town halls. If Neguse wants to win comfortably, he has the money to make sure every voter in the district sees his message repeatedly. If Dennison wants to keep this competitive, she needs to ensure enough unaffiliated voters show up to offset that spending advantage. The money is already in the bank. Now the candidates have to decide how to use it.