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Bloomberg Pledges $80 Million for 2018 Midterm Races, Mostly for Democrats

Former New York City Mayor Michael Bloomberg plans to spend $80 million on political campaigns this year, largely pumping the money into an effort to help Democrats win control of the House of Representatives.

Mr. Bloomberg, a billionaire who identifies as an independent, owns Bloomberg LP, a financial-services and media company based in New York. He has spent tens of millions of dollars in previous elections backing candidates of both parties and on issues such as tightening gun-control laws. He said in a statement Wednesday he would continue to support some Republicans at the state level.

In federal races, he is all in for Democrats.

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