Kevin McCarthy's Ambitions Are Being Funded By Business Execs

Energy, real estate, and private equity executives are opening up their wallets to help keep the House in Republican hands.

by Donald Shaw, Sludge

Wealthy business executives are funding House Speaker Kevin McCarthy’s (R-Calif.) campaign to keep the U.S. House of Representatives in Republican control after the 2024 elections.

In January, McCarthy formed the Protect the House 2024 joint fundraising committee to raise money for incumbent House Republicans who may face challenging re-elections next year, as well as for Republican Party groups that can spend money to help re-elect them. Besides the candidates, the group is raising money for the National Republican Congressional Committee, the McCarthy-endorsed super PAC Congressional Leadership Fund, and several state Republican Party groups.

US House Republican Leader Kevin McCarthy (R-CA) speaks with reporters about the GOP conference's leadership elections.

According to Fox News, McCarthy recently began doling out checks from the committee at an event at the Capitol Hill Club in D.C., distributing $4 million from Protect the House 2024 and another $4.4 million that he collected from House Republican members to 32 vulnerable House incumbents. Protect the House 2024 was set up to support Republicans including Reps. Lauren Boebert (Co.), John Duarte (Calif.), and Anna Paulina Luna (Fla.), according to its incorporation documents. The group is expected to report having raised $35 million in the first quarter of the year, according to the Fox News report.