Representative George Santos’s failure to account for hundreds of thousands of dollars in spending is part of a pattern of irregularities in the way his campaign handled its finances.
The loss came after Republicans pressured WinRed to lower its costs after complaints that the company generated millions for a handful of investors in 2020.
Interviews with more than 70 current and former officials show the outside forces and miscalculations and infighting that led to an improbable, still-undecided election.
The campaign arm of Senate Republicans had collected $181.5 million by the end of July but spent 95 percent of it. A big investment in digital, and hyperaggressive tactics, have not paid off.
In an otherwise favorable political climate, small-dollar donations have dropped for Republicans, making the party more reliant on megadonors to compete.