In a surprising turn of events, Kevin McCarthy has been ousted as the speaker of the House after less than nine months in the role. Now, the GOP is faced with the challenge of finding a successor who can match McCarthy’s fundraising abilities and party-building skills. McCarthy was known for his ability to raise substantial campaign funds, recruit top candidates, and build important political relationships. Many wonder if anyone can fill his shoes and continue his success in these areas.
The GOP is currently without a clear leader as they head into next year’s election. The House Republicans hold a razor-thin majority and the vote to choose McCarthy’s replacement won’t take place until at least next week. McCarthy’s departure has also had an impact on fundraising for the party. The National Republican Congressional Committee postponed its fall gala, which McCarthy was supposed to headline. McCarthy played a crucial role in helping the committee raise over $40 million during the last election cycle and more than $20 million so far in the current cycle.
Another significant beneficiary of McCarthy’s fundraising efforts was the Congressional Leadership Fund (CLF), a super PAC aligned with McCarthy. Under McCarthy’s leadership, the CLF and its associated nonprofits raised an impressive $645 million. This included $215 million for the 2020 election, around $350 million during the 2018 midterms, and approximately $80 million for the current cycle. The CLF will now shift its allegiance to the new House speaker once they are elected.
McCarthy was not only crucial in raising campaign funds but also in supporting the GOP’s outside groups, which invest heavily in advertising for key races. These groups are not subject to contribution limits for individual campaigns, allowing them to have a significant impact on elections. McCarthy’s ability to raise substantial sums for these groups will be sorely missed.
In the 2022 midterms, Republicans faced disappointing results and barely managed to retain their House majority. McCarthy, who needed 15 rounds of voting to become the speaker in January, faced challenges in balancing the interests of moderates and hard-right members while staying close to former President Donald Trump. Ultimately, he was unable to maintain his position as speaker, with eight Republicans joining House Democrats in voting him out.
Looking ahead, McCarthy has expressed his intention to continue supporting the GOP nationally and working towards gaining and keeping the majority in the next cycle. However, without his presence as speaker, holding onto the House majority appears to be an even tougher task for the Republicans. This is especially true for Republican-held districts in McCarthy’s home state of California, which Democrats were already targeting. Without McCarthy’s clout as speaker, these districts may become even more competitive.
The fallout from McCarthy’s ouster remains to be seen, but much will depend on whether he endorses his eventual successor. Aligning the GOP’s fundraising mechanisms to the new speaker will likely be smoother if McCarthy supports them. However, the transition is still expected to be challenging.
While some Republicans lament McCarthy’s departure, others are critical of his role as the chief campaigner for the House majority. They argue that Washington elites shouldn’t be picking winners and losers and that such decisions should be left to the voters.
As the House Republicans navigate this unprecedented situation, they face an uphill battle in finding a leader who can match McCarthy’s fundraising prowess and ability to build the party. The upcoming vote to select the new House speaker will be a pivotal moment for the GOP as they strive to maintain their majority in the 2024 elections. The party will need a dynamic leader who can rally support, raise funds, and inspire confidence among donors and voters alike.
