Khanna raises $450K in bid against Honda

Democrat Ro Khanna continued his strong fundraising pace, though for the first time he was outraised by Rep. Mike Honda (D-Calif.) in their race.

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Khanna brought in $450,000 in the last three months and has nearly $2 million in the bank, his campaign announced. He'd raised $500,000 in the quarter before.

Honda raised $650,000 in the same period, the first time he's outraised Khanna in the race. Honda has about half the money his challenger does, with roughly $1 million in the bank.

While Khanna may have the cash edge now, he seems to be spending it at a high rate — he also had almost $2 million in the bank three months ago, a sign he's burning through campaign funds at a fast clip.

The two Democrats are locked in what will likely be an expensive two-stage race. The duo and two Republicans are squaring off in an all-party summer primary, with the top two vote-getters advancing to a November faceoff in the Democratic district.