Accumulating resources on his task for the GOP to win back the House of Representatives majority in November's midterm elections, McCarthy obtained a record $50 million throughout the first six months of this year, according to fundraising figures shared first with Fox News on Monday.
McCarthy’s haul the past six months – which contains $19.2 million throughout the April-June second quarter of 2022 fundraising - brings to a record $124 million the amount of money the longtime congressman from California has raked in thus far in the 2022 election cycle.
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"Americans are demanding change, and Republicans are now in a position to deliver. I want to thank our supporters from all across the country for their generous assistance in providing the resources needed to take back the House," McCarthy told Fox News in an announcement.
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"We are now less than four months away from electing a Republican House, and firing Nancy Pelosi as Speaker. And we won’t rest until we finish the job on November 8th," McCarthy foresaw.
While Republicans lost the White House and their Senate majority in the 2020 elections, they defied anticipations and took a big bite out of the Democrats’ large House majority. The GOP now needs a net gain of only five seats in the 435-seat chamber in this year’s midterm elections to recapture the majority it yielded in the 2018 midterms.
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McCarthy will likely succeed Pelosi as House Speaker if Republicans, as pundits expect, win back the chamber’s majority.
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McCarthy’s team stressed that the House GOP leader proceeds to distribute the wealth. He transferred $44.1 million thus far this cycle to the National Republican Congressional Committee (NRCC), the House GOP’s reelection arm.
McCarthy further transferred $5.6 million this cycle to state GOP parties. And the House leader transferred $12.6 million throughout the cycle to vulnerable incumbents and challenger candidates.
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The minority leader's political team further showcased his digital fundraising, stressing that in the past six months McCarthy's got more than 310,000 online contributions with an average donation of $22.
His team further pointed to fundraising by outside groups, highlighting that the McCarthy-aligned Congressional Leadership Fund and American Action Network continue to outraise House Speaker Nancy Pelosi’s aligned outside groups – House Majority PAC and House Majority Forward. McCarthy's aligned groups got a combined $110 million last year.
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As they seek to recover the majority, Republicans have history on their side. On average, the party that wins the White House in a presidential election loses over 25 House seats in the following midterm election. Democrats are further currently facing a hazardous political climate fueled by record inflation and soaring gas prices that’s compounded by President Biden’s underwater approval ratings. McCarthy’s record-breaking fundraising this cycle is a further sign of Republican grassroots and big-donor enthusiasm before the midterms.
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