Conor Lamb is further behind John Fetterman’s fund-raising than it seems

There’s more to fund-raising than just the dollars. A deeper look at new financial filings in Pennsylvania’s U.S. Senate race tells us a lot about the candidates, their supporters, and their campaigns.

For instance, about a quarter of Democratic U.S. Rep. Conor Lamb’s cash on hand and slightly more of Republican Jeff Bartos’ can’t actually be spent on the May primary election.

That’s because they’ve each collected almost $700,000 that can legally only be used for the general election. That happens when a donor hits the $2,900 limit for primary. They can give up to $2,900 more, but only for the general election. See more details in the chart below.

Bottom line: Bartos and Lamb each trail their better-funded rivals like Mehmet Oz and Lt. Gov. John Fetterman by even more than it appears on paper. A super PAC has been set up to boost Lamb’s campaign, it could help him close that financial gap.

Pennsylvania’s wide-open Senate race is one of the most important, competitive, and expensive in the country, with control of the chamber in the balance.