Vermont Public · Peter Hirschfeld · September 8, 2026
First-time statewide Democratic candidate Amanda Janoo outraised Republican Gov. Phil Scott by a more than two-to-one margin so far this campaign. But the political newcomer still faces a substantial cash disadvantage with fewer than eight weeks until Election Day.
Janoo took in about $110,000 in August, according to campaign finance disclosures, bringing her total for the cycle to $420,000. Scott’s August haul was about $64,000.
But the five-term incumbent began the cycle with a more than $300,000 surplus from his 2024 campaign. And Janoo spent most of the money she raised during a competitive primary with Aly Richards.
As of Sept. 1, Scott had $309,000 cash on hand, compared with Janoo’s $59,000.
Janoo’s fundraising edge in August comes despite her pledge not to accept contributions from corporations or businesses. The progressive outsider, who’s proposed tax increases on high earners, second homes and large technology companies, has relied heavily on the 1,240 donors who’ve contributed less than $100.
“I’m feeling pretty proud I guess that we outraised Phil Scott,” Janoo said this week. “And there’s a lot of grassroots, I think, enthusiasm that’s indicated by the filing.”
Matt Dickinson, professor of political science at Middlebury College, said the finance disclosures suggest Janoo has begun to mobilize an “ideological grassroots coalition,” similar to the one that’s propelled national candidates including Massachusetts Sen. Elizabeth Warren and Vermont Sen. Bernie Sanders.
“The ideological coalition is reflective of passion, conviction,” Dickinson said. “These people are probably going to vote.”
Scott has relied more heavily on larger contributions from corporations, businesses and what Dickinson characterizes as an “established governing coalition.” A campaign finance analysis published by Vermont Public earlier this month found that 22.7% of all Scott’s campaign contributions since 2022 have come from corporations and businesses. They accounted for one-third of all Scott’s donations over the last month and included large checks from the online betting company Kalshi, tobacco giant Reynolds American and Anheuser Busch.
Emma Shouldice, Scott’s campaign spokesperson, said the governor’s official duties have eaten into time he would have otherwise invested in fundraising.
“The governor has been doing this for a long time, so we got somewhat lucky in the sense we had some money in the bank to start us off,” Shouldice said
Alex Garlick, professor of political science at the University of Vermont, said Janoo’s numbers indicate “more enthusiasm for her gubernatorial campaign than Democrats have had in several years.”
But in “absolute dollars,” he said, she’s still well short of what she’d need to mount a serious advertising campaign. A single television or streaming ad buy in Vermont costs a minimum of around $90,000.
“Phil Scott’s brand is pretty well known across the state, where he generally paints himself as standing against what he sees as the excesses of the liberal legislature, and no amount of advertising is going to be able to change people’s view of that in such a short period of time,” Garlick said. “I think one of the challenges that Amanda Janoo has is that she’s still building name recognition across the state, and she doesn’t have a lot of time.”
Both candidates say they plan to ramp up fundraising activities in the coming weeks. Janoo plans to host a prom-themed political fundraiser (“I feel like Vermonters like an excuse to get dressed up,” she said) and hopes to raise $100,000 for an advertising campaign on streaming services.
But she said her success in November hinges more on the 1,000 volunteers who have signed up to support her campaign.
“The reality is you can get a mailer and you can get a TV or a digital ad, but a call from a friend or a text from a friend that you know advocating for a candidate that you’re excited about is going to mean a lot more,” Janoo said.
Shouldice said the governor plans to hit the campaign trail in earnest between now and Nov. 3.
“This is a fully real race,” she said. “We are not mailing it in. We are not taking anything for granted.”
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