McCarthy raises nearly $60M so far this year

House Minority Leader Kevin McCarthy (R-Calif.) has raised nearly $60 million this year as Republicans work to build up their coffers ahead of the highly anticipated 2022 midterm elections, when the GOP is looking to retake control of Congress.

McCarthy announced on Wednesday that he has raised $57.8 million so far this cycle, including $14.7 million that was received during the third quarter.

More than 40,0000 donors contributed to McCarthy’s campaign in the past three months.

As of the beginning of October, McCarthy for Congress had $7 million cash on hand, according to the campaign.

The campaign said it has transferred $17.1 million to the National Republican Congressional Committee. He has also allocated $8.3 million to Republicans who are running in competitive districts, and $2.3 million to GOP state parties.

The minority leader’s latest fundraising haul broke the record he previously set during the first nine months of 2019, when he raked in $41.6 million.

“I want to thank all our contributors who helped make this a record-breaking quarter. With 13 months to go, the contrast is stark — Republicans nationwide are fired up to take back the House, while Democrats are running for the exits,” McCarthy said in a statement.

“And with a record number of Republicans filing to run, it is clear our movement is more united and energized than ever before. Working together, I’m confident we will take back the House convincingly next November,” he added.

Republicans are gearing up for what is likely to be a competitive 2022 midterm election season, with the GOP working to gain control of both chambers of Congress and Democrats looking to strengthen their majorities.

Democrats currently have an eight-vote majority in the House, and a one-vote majority in the 50-50 Senate because of Vice President Harris’s tie-breaking vote.

McCarthy has expressed confidence in the GOP’s chances of taking back the House, saying at the Conservative Political Action Conference in February that he would “bet my house” that Republicans would win back the lower chamber next year.

More than 780 Republican candidates have filed thus far, including 180 women, 163 veterans and 155 individuals who identify as a minority, according to McCarthy’s campaign.

Democrats, however, are also posting strong fundraising numbers. The Democratic National Committee and its affiliated joint fundraising group revealed last month that it raised $12.2 million in August, leaving them with almost $68 million in the bank.