WASHINGTON — Senate Banking Committee member Jon Tester, D-Mont., beat out Republican challenger Matt Rosendale in a tight race for re-election and in a state that President Trump won in 2016.
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The Montana Democrat was one of a handful of candidates to get additional support from the Credit Union National Association, which spent more than $1.5 million in independent expenditures beyond its ordinary PAC giving to support
With banking industry backing, Tester is among a group of moderate Democrats on the Banking Committee that played a key role in the Senate's passage last spring of a targeted regulatory relief bill. But the other two moderate Democrats in the group facing re-election — Heidi Heitkamp of North Dakota and Joe Donnelly of Indiana — both lost their seats Tuesday night to Republican challengers. Heitkamp and Donnelly also hail from states President Trump won in 2016.
Had Tester lost, it would have further dampened the industry's hopes of forging compromises on financial services legislation in the Senate, where some Democratic support is needed to meet the 60-vote threshold to pass legislation.
Tester had maintained in edge in polling against Rosendale for much for the campaign, but the race tightened considerably leading up to Election Day. Tester was the first ever Senate candidate supported in television advertisements produced by the American Bankers Association. He was also the first Democrat to get the endorsement of the super PAC Friends of Traditional Banking. The Credit Union Legislative Action Council spent $250,000 for direct mail, digital ads on Pandora and radio ads supporting Tester, a Democratic senator in a state President Trump carried by more than 20 points in 2016.
