Senate Minority Leader Chuck Schumer’s fundraising has slowed to a near standstill, sparking fresh speculation that he could face a serious primary challenge from Rep. Alexandria Ocasio-Cortez in 2026.

Federal Election Commission filings show the five-term New York Democrat raised just $133,000 during the last quarter — a sharp drop from his typical multi-million-dollar hauls and less than half of what he raised during the same period in his last election cycle, The New York Post reported.

The slowdown comes as Ocasio-Cortez, 36, raked in $4.5 million for her House reelection campaign during the same three-month period. The Bronx and Queens congresswoman has refused to rule out a Senate run — or even a future presidential bid — raising concerns inside Democratic circles that she may soon target Schumer directly.

Schumer’s campaign spent more than it raised from July through September, shelling out $322,000 while pulling in less than half that amount.

The 74-year-old lawmaker’s latest report shows just $133,000 in new receipts compared to the $337,000 he raised in the same period ahead of his 2022 race. By contrast, during the final quarter before that election, Schumer brought in nearly $6 million for his campaign and helped direct a record-breaking $119 million into the Senate Majority PAC.

While he still has $8.6 million cash on hand, that total trails Ocasio-Cortez’s reported $11.8 million — an unusual reversal for the longtime Senate leader known for his prolific fundraising operation.

“There’s a big political and financial upside to being bold and capturing energy, and in this moment that accrues to AOC, not Chuck Schumer,” said Adam Green, co-founder of the Progressive Change Campaign Committee. “He cannot avoid noticing that AOC is the kind of person inspiring people and therefore getting fundraising benefit.”

Schumer’s decline in donations has raised eyebrows among Democratic strategists and donors who have long viewed him as one of the party’s most effective fundraisers. His past success has relied heavily on support from Wall Street, lawyers, and real estate interests — three industries that have historically powered his leadership PAC.

This time, that support appears to be cooling as the Democratic Party undergoes a generational and ideological shift toward younger and more progressive figures.

Schumer’s office pushed back on speculation that the senator’s influence is waning, insisting he remains focused on maintaining control of the upper chamber.

“Chuck is focused on raising money for Senate 2026 candidates,” said spokesman Angelo Roefaro.

Still, Schumer’s advanced age and cautious approach to intraparty conflict have made him a target for left-wing activists eager for fresh leadership. Some progressives have criticized his backing of fellow septuagenarian candidates such as Maine Gov. Janet Mills, 77, saying it reinforces the image of a party led by older figures out of touch with younger voters.

Political analysts say Schumer’s fundraising woes could be temporary, noting his deep ties to donors and his ability to ramp up when needed.

“When he needs it, he’ll have it,” said Democratic strategist Hank Sheinkopf. “Schumer knows how to turn on the money machine. But this is a different era — and AOC represents the new energy.”

With Ocasio-Cortez’s grassroots fundraising soaring and Schumer’s campaign facing growing scrutiny, Democrats are bracing for what could become one of the most high-profile intraparty clashes in recent memory.