Nebraska Senate race is one of the most expensive political races in state history

LINCOLN — The U.S. Senate race between one of Nebraska’s wealthiest elected officials and a former labor union leader is one of the most expensive the state has seen in direct fundraising, according to an Examiner analysis of campaign finance reports. 

Incumbent Sen. Pete Ricketts, registered nonpartisan Dan Osborn and the other candidates on the ballot have raised more than $25.6 million combined. 

Osborn raised $10 million this cycle while Ricketts raised $14 million. The race has been heavy on mudslinging, with most campaign ads attacking each other. 

The former union leader spent roughly $9 million. Ricketts spent $13 million.  

The $25 million figure comes from official campaign accounts, not including outside spending from PACs. According to Open Secrets, the combined outside spending for Ricketts and Osborn is about $55 million.

Osborn had about $24 million spent against him and $10 million in support through various political action committees. Ricketts had $18 million spent against him and $1 million for him.

On the official campaign accounts side, the second-most expensive Nebraska federal race was Osborn’s bid against U.S. Sen. Deb Fischer in 2024, with a combined $21.7 million raised. 

This year’s Senate race lags behind the 2022 gubernatorial GOP primary between Charles Herbster, Gov. Jim Pillen and former State Sen. Brett Lindstrom — which brought in $26 million. The 2022 gubernatorial race brought in $28.3 million in total. 

Ricketts raised nearly $5.9 million in his successful 2024 special Senate election to finish out the remainder of Ben Sasse’s term. 

Ricketts has donated roughly $7 million to his own campaign this cycle, according to campaign finance reports. In 2006, when he lost his bid challenging U.S. Sen. Ben Nelson, Ricketts donated $12 million to his campaign. 

According to Politico, independent U.S. Sen. Bernie Sanders of Vermont disclosed he donated $25,000 to Osborn’s campaign. Both Osborn and Ricketts received most of their contributions from out of state — roughly 81% of Osborn’s funding is out of state, while Ricketts’ funding is roughly 65% out of state, according to Open Secrets.  

Early voting has already begun. The general election is Nov. 3.

Examiner Reporter Zach Wendling contributed to this report.