2022 Cash Dash: House GOP re-election arm breaks its own first-quarter fundraising record
House Republicans need a net gain of just five seats to regain majority in November's midterms
FOX Business Flash top headlines for April 8
Here are your FOX Business Flash top headlines for April 8.
The National Republican Congressional Committee (NRCC) reports hauling in $40.9 million the past three months, which it says is its best January-March first quarter of fundraising ever.
The House GOP’s re-election arm reported on Friday that its first-quarter figures were fueled by a $19.4 million haul last month, which it noted is its best March ever.
As it builds resources to win back a majority in the House of Representatives in November’s midterm elections, the NRCC highlighted that it has brought in $180.9 million so far in the 2022 election cycle, a 45% increase compared to $124.5 million it raised at the same point in the 2020 cycle.
HOUSE GOP REELECTION ARM ADDS MORE DEMOCRAT HELD SEATS TO MIDTERMS TARGET LIST
The committee reported holding $94.7 million cash on hand as of the end of March, nearly double the $48.8 million it had in its coffers at the same point in the 2020 cycle.
Rep. Tom Emmer of Minnesota, the chair of the National Republican Congressional Committee, on the campaign trail in 2020. (NRCC / Fox News)
"Republicans have the resources, the candidates, and the message needed to retake the majority," NRCC chair Rep. Tom Emmer of Minnesota touted.
The NRCC noted that House GOP leader Kevin McCarthy, R-Calif., transferred $37 million of his fundraising this cycle to the committee, with House GOP Whip Steve Scalise transferring $17.9 and Conference Chair Elise Stefanik $2.2 million. Fox News was first to report on Tuesday that McCarthy hauled in a record $31.5 million the first three months of this year.
HOUSE GOP LEADER KEVIN MCCARTHY BREAKS HIS OWN FUNDRAISING RECORD
"A special thank you to Leader Kevin McCarthy, Whip Steve Scalise, Conference Chair Elise Stefanik, and the hundreds of thousands of generous donors who continue to support our efforts to run winning campaigns across the country," Emmer emphasized.
House Minority Leader Kevin McCarthy speaks during a television interview at the Capitol on Nov. 5, 2021. (AP Photo/J. Scott Applewhite / AP Newsroom)
The rival Democratic Congressional Campaign Committee (DCCC) has yet to report their March and first-quarter fundraising figures. The DCCC enjoyed a slight fundraising edge over the NRCC last year and in the first two months of this year.
While Republicans lost the White House and their Senate majority in the 2020 elections, they defied expectations and took a big bite out of the Democrats’ large House majority. The GOP now needs a net gain of just five seats in the 435-seat chamber in this year’s midterms to recapture the majority it lost in the 2018 midterms.
WHAT THE LATEST FOX NEWS POLL IN THE RACE FOR CONGRESS SHOWS
As they aim to regain the majority, Republicans have history on their side. On average the party that wins the White House in a presidential election loses more than 25 House seats in the ensuing midterm election. Democrats are also currently facing a difficult political climate that is compounded by President Biden’s underwater approval ratings.
A Fox News national poll conducted in mid-March indicated the GOP had a slight edge over the Democrats in congressional preference among voters.
Meanwhile, 30 House Democrats to date have announced that they will retire at the end of the current term, or run for another office, rather than run for re-election. That's nearly double the 17 House Republicans who are not seeking re-election.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
House retirements are often seen as an early barometer of things to come in the midterms. The last time the House flipped, amid a blue wave in the 2018 midterms, there were 23 GOP retirements compared to just 10 among House Democrats.
Competitive seats become even more vulnerable without a well-known and well-financed incumbent running for re-election.