EXCLUSIVE – House Speaker Kevin McCarthy has gotten off to a fast start in building up a formidable war chest as he aims to expand the Republican majority in the chamber in next year’s election.
McCarthy raised $35 million in Q1 2023 fundraising from January through March, according to numbers first shared with Fox News on Wednesday. McCarthy’s quarterly haul surpasses his previous record of $31.5 million raised in the first quarter of last year and marks the most money a House Republican has brought in in a three-month period.
The speaker, who is known as one of Washington DC’s most prolific fundraisers, personally raised $150 million in the last election cycle to help Republicans win back a majority in the House.
Republicans controlled the majority in the House for eight years before Democrats regained the chamber in midterm 2018. Two years later, in the 2020 election, the GOP defied expectations and took a big hand of the majority of Democrats.
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Incoming Speaker of the House Kevin McCarthy of California holds the gavel on the floor of the House at the United States Capitol in Washington, early Saturday, January 7, 2023. (AP Photo/Andrew Harnik)
The GOP won a majority in the November 2022 election, but hopes of a red wave never materialized and the party retains a frail majority of 222-213. That means Democrats need a net gain of just five seats to regain control of the chamber next year.
“When we won back the House, we promised to uphold our commitment to America and get our nation back on track. We delivered on our word. Our conference stands united and is changing Congress for the better,” McCarthy said in a statement to Fox News.
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“Our work represents a new direction and a better approach, and the American people are taking notice. I want to thank our supporters for their historic generosity as we begin our mission to expand the Republican majority in the House in 2024,” the speaker added.
After winning a majority in the House midterm in November, McCarthy still needed to secure his party’s support as he fought his way through a historic 15-round, five-day election at the start of the year. With nominal donations received during the fight for the speaker’s hammer, the first quarter fundraiser was delayed by nearly a week.
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But McCarthy apparently made up for lost time quickly, with his team telling Fox News that he raised more than $400,000 a day on average once he took office as Speaker of the House. McCarthy raised $12.3 million at his first major fundraiser, held in early February at a downtown DC hotel.
House Speaker Kevin McCarthy (R-CA) delivers remarks at an event to introduce the Parents’ Rights Act with Rep. Virginia Foxx (R-VA) (L) and Rep. Julia Letlow (R-LA) in the Rayburn Chamber at the United States Capitol on March 1, 2023 in Washington, DC. (Getty Pictures)
McCarthy’s team also touted a spike in grassroots support, with nearly $150,000 coming in small-dollar online donations received from all 50 states. Although he is now Speaker of the House, McCarthy has maintained his busy campaign travel schedule. His aides say that when the House was not in session during the first quarter, McCarthy spent 37 days on the road, visiting eight states to help raise funds and helping candidates launch their respective campaigns.
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Speaker’s aides point out that McCarthy handed out $4 million in the first three months of the year to House Republicans facing tough re-elections in 2024, and another $5 million was funneled to the National Committee Republican Congressman (NRCC), which is the House GOP campaign. arm.