Pennsylvania’s GOP Senate primary draws backing from some of Wall Street’s biggest billionaires, making it one of the most expensive midterm races

Pennsylvania’s GOP Senate primary draws backing from some of Wall Street’s biggest billionaires, making it one of the most expensive midterm races

Wall Street executives are pouring millions of dollars into the Republican primary race for Pennsylvania's open U.S. Senate seat — where veteran physician Dr. Mehmet Oz and former Bridgewater CEO Dave McCormick lead in the polls — making the primary one of the most expensive in the 2022 midterm elections. During the first quarter, dozens of the men's allies and close friends — current and former Wall Street CEOs and executives — have hosted fundraisers, directed contributions to their campaigns and donated directly to the candidates and political action committees supporting their bids, according to Federal Election Commission filings, invitations to private fundraisers, and interviews with people close to both men, some of whom asked not to be named in order to speak freely. The race to replace retiring GOP Sen. Pat Toomey is a critical one that could help determine the balance of power in the chamber, which is evenly divided between Republicans and Democrats. The Cook Political Report marks the Senate seat as a toss-up, and a Real Clear Politics average of polls shows McCormick with an edge over Oz in the Republican primary. The contest has drawn support from executives at Goldman Sachs as well as billionaire