Big donors are pouring resources into the battle for House control, and as the election nears, Democrats have outperformed Republicans in fundraising.
This marks a remarkable turnaround: Republican super PACs have dominated in previous election cycles, playing a crucial role in supporting candidates who couldn’t match the fundraising prowess of their Democratic opponents. However, that edge has vanished in the House this time around.
The Congressional Leadership Fund, the largest GOP organization focused on House victories, announced on Tuesday that it raised $81.4 million between July and September, marking its highest quarterly figure to date. This is particularly noteworthy given that Republicans lost their top fundraiser about a year ago when Kevin McCarthy was removed from his position as speaker.
Yet, CLF still fell short compared to its Democratic counterpart. The House Majority PAC indicated it gathered approximately $99 million in the third quarter, with a substantial $69 million raised in September alone.
Both super PACs have now accumulated around $210 million this election cycle—a concerning sign for Republicans who have relied on major donors to stay competitive in key battlegrounds.
“HMP is incredibly proud to have outpaced our Republican counterparts in Q3, eliminating the GOP Super PAC advantage while the fundraising gap for candidates continues to grow for Democrats,” stated Mike Smith, the president of the group. “In the four weeks leading up to Election Day, we are confident that our record-setting fundraising and strategic advantage in reserving critical television and digital advertising at optimal rates will enable us to reclaim the House in November.”
Republicans have traditionally believed that they don’t need to match Democrats dollar-for-dollar in television advertising. Following McCarthy’s departure, Speaker Mike Johnson has been working on building relationships with donors while keeping Dan Conston, the operative chosen by McCarthy to lead CLF, in his position.
“We are continuing to gather essential resources and strategically deploying them to significantly impact the pivotal races that will define the Majority,” Conston remarked in a statement.
Nevertheless, there are limits to what outside groups can accomplish. Candidates can purchase TV airtime at significantly lower rates than super PACs, making it less effective for external groups to buy advertisements compared to the campaigns themselves. Republicans tend to rely more on outside groups because their candidates often lack sufficient funds for their own advertisements.
Since 2018, Democratic candidates have predominantly outpaced their opponents in fundraising. So far this year, over 10 Democratic challengers have announced fundraising totals exceeding $2 million in the last quarter.
For instance, Janelle Bynum, the Democrat running against Rep. Lori Chavez-DeRemer (R-Ore.), reported raising $3.4 million in the third quarter. Laura Gillen, the Democrat challenging Rep. Anthony D’Esposito (R-N.Y.), garnered $2.4 million, and Derek Tran, the Democrat contesting Rep. Michelle Steel (R-Calif.), raised over $2 million.
With Republican House candidates consistently lagging behind their Democratic counterparts, CLF has been instrumental in bridging that gap.
During the 2020 election cycle, both CLF and HMP had relatively similar fundraising results. CLF raised $165 million, while HMP brought in $160 million. However, Republicans experienced a surge in 2022, with CLF maintaining a steady cash advantage, raising $260 million compared to the Democratic group’s $182 million.
This financial advantage can significantly impact campaigning in the closing stages. In 2022, CLF’s financial superiority allowed it to spend $141 million on independent expenditures for House races from October 1 until Election Day, versus HMP’s $121 million, according to FEC data. CLF outspent HMP in 32 of 47 races where both organizations were financially involved.
However, that dynamic may be shifting this year. HMP, flush with cash, is consistently launching new ad reservations. Currently, it has booked $52 million more than CLF for future TV and radio ad placements up to Election Day, based on data from AdImpact, which monitors political spending. Of course, both sides still have the opportunity to purchase additional ads, which could alter that allocation before November.
