Newly-minted Speaker Mike Johnson (R-LA) announced the launch of a joint fundraising committee Monday as he looks to expand his fundraising prowess and live up to the legacy left by former Speaker Kevin McCarthy (R-CA), particularly as Republicans head into critical 2024 elections.
“Speaker Johnson has hit the ground running to ensure Republicans in critical districts have the resources they need to achieve victory. The Speaker is all-in to grow our majority and the creation of this new joint fundraising committee shows he is committed to doing his part to help the team,” said Billy Constangy, the executive director of Johnson's political operation.
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Grow the Majority is slated to be Johnson's main fundraising vehicle to raise money for members of his conference. The new committee is made up of 70 Republican entities, including 25 NRCC Patriot incumbent members of Congress, 16 GOP challengers in NRCC-targeted districts, 10 nominee funds in NRCC-targeted districts, 20 state Republican parties, the National Republican Congressional Committee, the Congressional Leadership Fund, the Republican National Committee, Johnson’s reelection campaign, and the speaker's leadership PAC.
In a press release, Johnson's team noted that the committee's maximum contribution is $850,600 due to its large membership. Such a contribution would be redistributed to each entity in the form of their maximum contributions.
Following McCarthy's October ouster after nine months as speaker and the subsequent election of the relatively unknown Johnson, Republicans worried about fundraising ability, especially ahead of pivotal elections in 2024. McCarthy had established himself as one of the most prolific fundraisers in the party and, according to the New York Times, was responsible for 10%-25% of campaign funds this year for nearly all of the most vulnerable Republicans in the House.
“Mike Johnson is not known to be a prolific fundraiser. He’s raised money to meet his needs in a noncompetitive seat in Louisiana,” former Republican Rep. Tom Reynolds, who was once chairman of the NRCC, pointed out. “It remains to be seen: Can he raise money to help the members when it comes time next year?”
However, Johnson wasn't left to figure it out alone. McCarthy, in fact, pledged to assist in the transition of Johnson to the speakership. “I helped build the majority, and I’m not going to walk away from it," he said in October.
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McCarthy's sentiment was shared by top McCarthy-aligned fundraiser Jeff Miller, who quickly moved to assist the new speaker with his monetary gap. “Throughout my career, I have raised money for Republicans as a volunteer, and I intend to continue to do so,” he said following the speaker battle. “I will absolutely help the new Speaker raise the resources to grow our majority in the House. Nothing is more important than electing more Republicans to the House of Representatives.”
In another positive sign for Johnson, lobbyists appeared eager to get in with him and fundraise, given his relative lack of connections to the lobbying world. Several signaled their desire to host events for him following his election, with one lobbyist telling Politico it would be the "easiest hundred grand.”