USA (Washington Insider Magazine) —As House Speaker Kevin McCarthy was ousted last fall, Republican operatives worried that his successor, Mike Johnson, would struggle to match his fundraising capabilities. Recent federal filings confirm these concerns.
Earlier this month, Johnson announced raising $20 million in the first quarter of 2024. These funds will support his campaign, fellow Republican colleagues, and party committees. However, this falls short of McCarthy’s previous fundraising benchmarks: in the first quarter of 2022, McCarthy raised $31.5 million for Republicans, followed by $35 million in the same period in 2023.
Further highlighting the fundraising gap, filings from both leaders’ joint fundraising committees, submitted Monday to the Federal Election Commission, show a marked difference. In the first quarter of last year, McCarthy’s committee, Protect The House 2024, brought in $28 million. In comparison, Johnson’s committee, Grow the Majority, raised $9 million between January and March this year.
McCarthy, who spent years building donor relationships and supporting allies, had a well-established fundraising network. Johnson, in contrast, assumed the role just six months ago, facing the challenges of developing a fundraising base during an election year. Still, his current fundraising figures add pressure to his position as he continues to face potential ouster threats from some members of his caucus.
Reflecting on his fundraising, Johnson stated, “In less than six months as Speaker, we have hit the ground running to ensure House Republicans have the resources necessary to win in battlegrounds across America – and we cannot slow down now. While families suffer under increasing inflation, rising crime, and open borders, we will stay focused on our goal to grow the majority in November and deliver solutions for our nation.”
Despite resigning from Congress in December, McCarthy retains $6.3 million in his campaign account, which he can use to support other campaign efforts. In the first quarter, he contributed $4,000 to Vince Fong, a California assemblyman running to succeed him, and to Louisiana Rep. Garret Graves, a McCarthy ally. McCarthy also transferred $200,000 to a pro-Fong super PAC and donated $2,000 to a challenger of Virginia Rep. Bob Good, a Freedom Caucus member who voted for McCarthy’s ouster.
Meanwhile, McCarthy’s campaign committee refunded approximately $2.8 million in contributions last quarter and terminated his leadership PAC in February, indicating that he is winding down his political activities.
In the Senate, recent FEC records highlight strategic moves by GOP leaders John Thune of South Dakota and John Cornyn of Texas, who are positioning themselves to potentially succeed Mitch McConnell as Senate GOP leader in November.
Cornyn, a former chair of the National Republican Senatorial Committee (NRSC), allocated $1.2 million to the NRSC and $1.3 million to Senate candidates and incumbents through his joint fundraising account. Thune’s PAC, Heartland Values, directed $120,000 to a GOP Senate fundraising committee and sent $1.2 million to the NRSC via his joint fundraising operation.
Monday’s filings also covered major Senate-aligned super PACs. The Democratic Senate Majority PAC raised $39.3 million, surpassing its GOP counterpart, Senate Leadership Fund, which raised $26.8 million. The Democratic PAC closed April with $92.4 million in cash, compared to the GOP’s $59.5 million. Both super PACs are set to play pivotal roles this fall, with Senate Majority PAC planning $239 million in key races and the Senate Leadership Fund reserving $130 million.
FEC filings also shed light on intraparty divides. Maine Sen. Susan Collins’s PAC donated $15,000 to Republican Rep. John Curtis’s campaign to replace retiring Sen. Mitt Romney in Utah. Other Utah candidates include former House Speaker Brad Wilson and attorney Brent Hatch, son of late Sen. Orrin Hatch.
California Rep. John Duarte’s PAC contributed $2,000 to a primary challenger of Rep. Nancy Mace, one of the Republicans who voted to remove McCarthy.
As members work to shape elections, FEC reports reveal financial maneuvers by those preparing to leave office. Arizona Sen. Kyrsten Sinema, who announced she won’t seek reelection, ended April with $10.1 million. Since March 5, she has spent $180,000 on expenses such as security, travel, and payroll.
Retiring Sen. Joe Manchin’s PAC donated $5,000 to Wheeling Mayor Glenn Elliott, a candidate for Manchin’s West Virginia seat. Senate Majority Leader Chuck Schumer recently encouraged Manchin to seek reelection as an independent, though Manchin ruled out a third-party presidential run.
Meanwhile, indicted Sen. Bob Menendez of New Jersey, who has not pursued reelection as a Democrat but left open the option of an independent run, raised only $1,200 in the first quarter, while spending nearly $600,000, including $550,000 for legal fees related to his bribery case.
Sen. Bernie Sanders of Vermont has yet to confirm if he’ll seek a fourth term. His first-quarter filings indicate potential preparations, with $1.1 million raised and $9.8 million cash on hand as of April.