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Kevin McCarthy’s midterm machine raked in stunning $500M this cycle

House Minority Leader Kevin McCarthy’s midterm fundraising machine raked in roughly $500 million for himself and his party this election cycle.

McCarthy is first in line to be Speaker of the House if Republicans take the House on Election Day, which they are widely expected to do. McCarthy’s personal campaign and affiliated PACs brought in over $150 million, over $75 million of which he distributed to the National Republican Congressional Committee and other Republican races, Punchbowl News reported.

Meanwhile, the McCarthy-aligned Congressional Leadership Fund scooped up $342 million in donations throughout the cycle, reportedly blowing out their 2020 fundraising efforts by more than $100 million.

McCarthy is confident Republicans will take back the House after four years of Democratic control on Tuesday. Polls agree with his assessment, though the size of Republicans’ likely majority remains cause for debate.

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House Minority Leader Kevin McCarthy, R-Calif., speaks about Republicans' "Commitment to America" agenda at DMI Companies in Monongahela, Pa., Friday, Sept. 23, 2022. 

House Minority Leader Kevin McCarthy, R-Calif., speaks about Republicans’ "Commitment to America" agenda at DMI Companies in Monongahela, Pa., Friday, Sept. 23, 2022. 
(AP Photo/Barry Reeger)

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“The one thing you always have to remember is majorities are not given — they’re earned,” McCarthy told Fox News Digital last week. “We never take anything for granted, but I feel good because of the quality of the candidates we have running from Rhode Island to New Hampshire to Connecticut to Oregon to Washington to Arizona to California.”

“There is no place we can’t compete and that’s what is exciting,” he added.

McCarthy has vowed to use a Republican majority to repeal plans to add 87,000 new agents to the IRS, as well as open investigations into President Biden’s administration.

McCarthy and Republicans have focused heavily on the economy, inflation, crime and Biden’s personal unpopularity to secure polling advantages across the country.

U.S. President Joe Biden speaks during a rally hosted by the Democratic National Committee (DNC) at Richard Montgomery High School on August 25, 2022 in Rockville, Maryland. Biden rallied supporters for Democratic candidates running in Maryland and to encourage Democratic voters nationwide to turn out in the November midterm elections. 

U.S. President Joe Biden speaks during a rally hosted by the Democratic National Committee (DNC) at Richard Montgomery High School on August 25, 2022 in Rockville, Maryland. Biden rallied supporters for Democratic candidates running in Maryland and to encourage Democratic voters nationwide to turn out in the November midterm elections. 
(Drew Angerer/Getty Images)

Biden and the Democrats had gambled on making abortion the central issue of the midterms following the Supreme Court’s decision to overturn Roe v. Wade. Polling suggests the issue faded in importance to voters in the face of worsening economic issues.

Biden and House Speaker Nancy Pelosi have dismissed the polls, however, sticking to their guns on abortion.

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“Inflation’s an issue, but it’s global. It’s global. … What’s their plan? They ain’t got nothing,” Pelosi said in October. “When you bring down unemployment, inflation goes up. … So in any case, [President Biden] brought unemployment [down], cut it in half. Inflation is, thereby, but it’s global and not as bad as it is in some countries. We’ll have to message it better in the next three weeks ahead. I think we’re in great shape. Other people don’t want to believe that.”

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