The Removal of Kevin McCarthy as House Speaker Could Impact GOP Fundraising Efforts Ahead of 2024 Elections

Kevin McCarthy’s tenure as a prodigious fundraiser and recruiter for the Republican Party culminated in his ascent to the role of Speaker of the House. However, his removal from this position after just nine months has left many within the GOP questioning if there is a successor capable of matching his fundraising and party-building prowess.

The vote to select McCarthy’s replacement is not slated until at least the coming week, due to the suspension of all legislative activities amid unprecedented national events. During this interval, House Republicans find themselves without a distinct leader, as they attempt to hold onto a precarious majority ahead of next year’s electoral contests.

Representative Kelly Armstrong, R-N.D., emphasized, “No one can mobilize financial resources as effectively as McCarthy. Regardless of who the next Speaker will be, replicating McCarthy’s achievements will be a tall order.”

The National Republican Congressional Committee (NRCC), the fundraising body of House Republicans, has postponed its forthcoming fall gala in Dallas, where McCarthy was scheduled to be the keynote speaker. The NRCC credited McCarthy with having raised in excess of $40 million in the last electoral cycle and more than $20 million in the current cycle.

His fundraising record was even more impressive when accounting for his association with the Congressional Leadership Fund (CLF), a Super PAC aligned with McCarthy, which along with its affiliated nonprofits, amassed approximately $645 million under his influence.

The CLF is prepared to pivot its focus toward the newly elected House Speaker once the decision is made. Dan Conston, President of the CLF, noted, “Speaker McCarthy has revolutionized how House elections operate for the Republican Party through his recruitment strategies, unparalleled fundraising abilities, and his skill in garnering donor confidence. His loss is a blow to the party, but our objective remains steadfast.”

Before becoming Speaker, McCarthy was widely regarded more as a political strategist than as a lawmaker. He had an exceptional knack for identifying strong Republican candidates and generating the financial backing required to win elections and strengthen the party at a national level.

While the next House Speaker may eventually step into the role of attracting funds during district visits, the larger question remains: Can they emulate McCarthy’s fundraising capability for the party’s external groups? These entities spend millions annually on advertising for key races, unencumbered by individual campaign contribution limits.

Veteran Republican strategist Cam Savage, who specializes in House races, highlighted, “McCarthy was instrumental in doing the heavy lifting for the Congressional Leadership Fund.”

During the 2022 midterms, Republicans did not fare as well as anticipated, securing a House majority by a thin margin. McCarthy faced a daunting task of bridging the gap between moderates and hard-right elements within the party, a feat he ultimately could not achieve. This led to a surprising coalition of eight Republicans collaborating with House Democrats to oust McCarthy from the Speakership, some of whom he had personally campaigned for.

McCarthy, however, has indicated that he will remain politically active, stating, “My objectives remain unchanged, just the means to achieve them have been altered.”

The GOP already faces an uphill battle in retaining the House, particularly in districts won by Joe Biden in 2020. Moreover, McCarthy’s home state of California could become even more of a battleground without the influence of a Californian Speaker.

Viet Shelton, a spokesman for the Democratic Congressional Campaign Committee, stated, “Following the recent tumultuous events, House Republicans have essentially fast-tracked their shift toward extreme conservatism.”

The future of the Republican House leadership could hinge on whether McCarthy chooses to endorse his successor. Such an endorsement would facilitate a smoother transition of the party’s fundraising apparatus to align with the new leadership.

Marty Obst, who worked on Trump’s 2020 campaign and has previously fundraised with McCarthy, noted, “Navigating this transition will undoubtedly be a complex endeavor.”

However, not all Republicans are regretful about McCarthy’s departure. Katie Arrington, who was defeated by Representative Nancy Mace of South Carolina in a 2022 primary, questioned the centralization of campaign responsibilities at the Speaker’s level, stating, “The problem with Washington is that elites believe they know better.”

Contributions to this report were made by Big Big News correspondents Kevin Freking in Washington and Meg Kinnard and James Pollard in Columbia, South Carolina.

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More about Kevin McCarthy’s removal as House Speaker

• Kevin McCarthy’s Political Profile
• National Republican Congressional Committee
• Congressional Leadership Fund
• 2024 United States Elections
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• Democratic Congressional Campaign Committee
• Role of the Speaker of the House in the U.S.
• Financing U.S. Elections
• Super PACs in American Politics