Despite concerns that Mike Johnson, who succeeded Kevin McCarthy as House speaker, would struggle to replicate McCarthy’s fundraising prowess, recent federal filings show that Johnson raised $20 million in the first three months of the year. In comparison, McCarthy raised $31.5 million in the first quarter of 2022 and $35 million in the first quarter of 2023. The filings illustrate a disparity between McCarthy’s and Johnson’s fundraising operations, with McCarthy having had more time to cultivate donor relationships.
Johnson, who took over as speaker less than six months ago, faces the challenge of building out his fundraising operation in an election year. His inability to match McCarthy’s fundraising could add pressure as he continues to face threats of ouster from rebellious members of his caucus. In a statement, Johnson emphasized the importance of resources necessary for House Republicans to win in battlegrounds across America and deliver solutions for the nation amid pressing issues like inflation, rising crime, and open borders.
McCarthy, who resigned from Congress at the end of December, still has $6.3 million in his personal campaign account, which he could direct towards other campaign efforts. He made contributions to various candidates, including pro-Fong super PAC and a primary challenger to Virginia Rep. Bob Good. Despite distributing some remaining funds, McCarthy refunded roughly $2.8 million in contributions last quarter and terminated his leadership PAC in February, indicating a winding down of his political operation.
Senate GOP Whip John Thune and former Senator John Cornyn transferred funds to various groups and candidates to win influence and jockey for votes as they vie to succeed Mitch McConnell as the Republican Party’s Senate leader. The latest FEC reports showed Senate Majority PAC significantly outraised its GOP counterpart, Senate Leadership Fund, and entered April with more cash banked. Both groups are poised to play key roles in the upcoming fall elections, with plans to spend significant amounts on crucial races.
The FEC filings shed light on intraparty divides, such as Senator Susan Collins’s support for Republican Rep. John Curtis’s Senate bid and Rep. John Duarte’s donation to a primary challenger to Rep. Nancy Mace. The reports also highlighted how outgoing members like Independent Senator Kyrsten Sinema and retiring Senator Joe Manchin are managing their leftover campaign funds. Sinema spent funds on various expenses after announcing she would not seek reelection, while Manchin’s leadership PAC supported a mayoral candidate in West Virginia. Indicted Senator Bob Menendez raised minimal funds and spent a significant amount on legal fees.
Independent Senator Bernie Sanders, who has not confirmed if he will seek a fourth term, raised $1.1 million in the first quarter and entered April with $9.8 million in cash on hand. Despite uncertainties surrounding some senators’ reelection plans, their fundraising efforts and allocation of campaign funds indicate preparations for the upcoming elections. Fundraising and financial management play crucial roles in shaping political landscapes and influencing election outcomes, as demonstrated by the recent FEC filings.
