The current Republican House speaker, Mike Johnson, is facing fundraising challenges compared to his predecessor, Kevin McCarthy. Johnson raised $20 million in the first three months of 2023, while McCarthy raised $35 million in the same period. McCarthy’s joint fundraising committee raised $28 million in the first quarter of 2022, compared to Johnson’s committee raising $9 million in the first three months of 2023. The disparity in fundraising raises concerns about Johnson’s ability to maintain support and compete in upcoming elections.
Johnson emphasized the importance of continuing to raise funds to support Republican campaigns across the country, despite his challenges. McCarthy, who resigned from Congress in December, still has $6.3 million in his personal campaign account that he can use to support other campaigns. McCarthy made contributions to former staffers and allies, as well as transferring funds to super PACs and supporting primary challengers. However, signs indicate that McCarthy may be winding down his political operations.
Senate GOP whip John Thune and former leader John Cornyn are seen maneuvering to succeed Mitch McConnell as Senate leader. Both are transferring large sums of money to party committees and candidates to increase their influence and support within the party. The Democratic super PAC, Senate Majority PAC, significantly outraised the Republican super PAC, Senate Leadership Fund, and is planning to spend substantial sums in the upcoming elections. Party leaders are using their fundraising efforts to shape internal party dynamics and support candidates aligned with their interests.
The latest FEC filings also highlighted intra-party conflicts and support for various candidates. Susan Collins’ leadership PAC donated to a candidate vying for retiring Sen. Mitt Romney’s seat in Utah, showcasing support within the party for different contenders. Internal GOP conflicts were also seen, such as Rep. John Duarte donating to a primary challenger of a Republican who voted for McCarthy’s ouster. Members of Congress are using their fundraising efforts to influence elections and support candidates aligned with their positions.
The FEC reports also shed light on how retiring members are managing their remaining campaign funds. Senators Kyrsten Sinema and Joe Manchin, who are not seeking reelection, are using their funds for various expenses. Indicted Sen. Bob Menendez raised minimal funds in the first quarter and spent a considerable amount on legal fees for his bribery case. Meanwhile, Sen. Bernie Sanders, who has not confirmed if he will seek another term, raised significant funds and maintained a large cash reserve. The use of leftover campaign funds reflects how departing lawmakers are supporting their preferred candidates and causes.
Overall, the latest FEC filings reveal the ongoing fundraising challenges, internal party conflicts, and strategic maneuvers among current and retiring lawmakers. Johnson’s fundraising struggles compared to McCarthy, Thune and Cornyn positioning themselves for party leadership, and party super PACs preparing for decisive roles in upcoming elections all underscore the importance of fundraising in shaping party dynamics and influencing election outcomes. The use of campaign funds by retiring members also highlights how they are continuing to support their chosen candidates and causes even as they prepare to exit from public office.
