Recent federal filings have shed light on the fundraising performance of former House Speaker Kevin McCarthy and his successor, Mike Johnson. The data reveals a significant disparity in their ability to secure financial support for Republican campaigns and party committees.
In the first quarter of 2022, McCarthy raised an impressive $31.5 million for Republicans, followed by an even higher amount of $35 million in the first quarter of 2023. In contrast, Johnson's fundraising efforts yielded $20 million in the first three months of this year.
Further highlighting the gap, McCarthy's joint fundraising committee, Protect The House 2024, raised $28 million in the first quarter of last year, while Johnson's Grow the Majority committee managed $9 million in the same period this year.
The disparity can be attributed to McCarthy's years of relationship-building with donors and allies, giving him a significant advantage over Johnson, who assumed the role of speaker less than six months ago. Johnson faces the challenge of expanding his fundraising network during an election year.
Despite the fundraising gap, Johnson remains committed to supporting House Republicans in battleground states. He emphasized the importance of securing resources to win elections and address critical issues facing the nation, such as inflation, crime, and border security.
Meanwhile, McCarthy, who resigned from Congress in December, still holds $6.3 million in his personal campaign account. He has directed some of these funds towards supporting candidates like Vince Fong and Garret Graves, as well as contributing to a super PAC and a primary challenger to Rep. Bob Good.
McCarthy's recent actions, including refunding $2.8 million in contributions and terminating his leadership PAC, suggest a winding down of his political operations. The evolving dynamics of Republican fundraising underscore the challenges and opportunities facing party leaders as they navigate the upcoming election cycle.
