Skip to content

Invest2 publishers2 min readPublished

Trump opens his 32-day midterm push by shoring up Republican ground in Texas and Oklahoma

Donald Trump opens a 32-day midterm campaign in Texas and Oklahoma as AP-NORC puts approval of his handling of the economy at a record-low 26%. He is spending his first days on ground his party once held easily, so investors should treat a change in control of Congress on Nov. 3 as a live outcome.

The Investor · Invest desk

Photograph accompanying Trump opens his 32-day midterm push by shoring up Republican ground in Texas and Oklahoma
Photo: fortune.com

What happened

  • AP-NORC found only 17% of U.S. adults approve of Trump's handling of the cost of living.
  • Republicans are spending heavily in Texas to bolster Ken Paxton, who faces a very competitive Senate challenge from Democratic state Rep. James Talarico.
  • In Oklahoma, Trump is campaigning for Mike Mazzei against Democrat Cyndi Munson for governor, a race the Democratic Governors Association says keeps getting more competitive.
  • Trump's Friday stop in Mobile, Alabama, is meant to boost Tommy Tuberville's run for governor and Rep. Byron Donalds in Florida's adjacent panhandle.

Compiled by The InvestorSomething wrong?How this is made

Why it matters

  • decision Policy scenarios for after Nov. 3 need to give real weight to a change in control of Congress, because the governing party is spending its resources as though its majorities are at risk.
  • cost Every day Trump spends in Oklahoma or Alabama is a day he cannot spend in Ohio, Iowa or Michigan, and the opening swing alone uses about 6% of a calendar that ends on Nov. 3.
  • exposure Republican candidates in close races are tied to the president's economic ratings, and party officials have already decided some of them are better off without Trump on stage.

A campaign has two limited resources, money and the candidate's time. Republicans say the money is in hand. "We have the resources to spend, and Republicans are full steam ahead to protect and expand our majorities," RNC spokesperson Delanie Bomar said in a statement [8]. Time is fixed at the 32 days Trump has set aside before Nov. 3 [1]. He is spending the first two in Texas, Oklahoma and Alabama [1][12].

Texas is on the party's own list of contested states. Fortune's headline calls it deep-red [19]. A Republican official told Semafor that Trump will also travel to actual battleground states, naming Florida, Texas, Ohio, Iowa and Michigan [14].

The opening stops support three readings. The party's reading is efficiency: Durant is close to the Dallas-Fort Worth media market [11], and the official said both rally sites "hit multiple states and media markets" [13]. The second is that a Texas Senate seat and an Oklahoma governorship, once treated as settled, are now close enough to need the president [9][17]. The third came from a person close to the White House. "I don't really buy it, but it's a well-thought-out explanation," that person told Semafor. "I think they want big rallies." [15]

I think the second reading is the one with money behind it. Heavy Republican spending for Paxton is defensive spending, in a state where GOP candidates once expected easy wins [9][4]. The counter-thesis is that reaching two states per stop is a sensible use of a fixed calendar in any year. Trump officials say the aim is to turn out low-propensity voters in the close races Republicans need to keep Congress [16].

The poll is the backdrop. Trump's cost-of-living rating sits nine points below his economy number [2], and he has repeatedly dismissed concerns about high costs and gas prices as the war in Iran drags on [18]. He calls it a messaging problem. "We're not getting the word out," he told reporters [7]. "I'm going out because nobody's selling it," he said [6].

The election will determine control of Congress, and Republicans have grown more pessimistic about their chances [5]. The reporting does not include seat projections or a legislative agenda, so the policy cost of a change in control cannot be sized from it. The view is wrong if Republicans pull back from Paxton's race in October [9]. That would mean the party had judged Texas safe, and the opening swing was about media markets and crowds.

What to watch

  • Whether Trump's later stops move to Ohio, Iowa and Michigan, or keep landing in states the party once counted as safe.
  • The next AP-NORC reading on Trump's handling of the economy, measured against this poll's 26% low.
  • Whether national Republicans add money to Mike Mazzei's Oklahoma governor race after the Durant rally.
Loading claim ledger
Loading source directory links
Loading share composer
Loading topic controls
Loading related stories