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You are here: Home / House of Representatives / McCarthy’s Fall Is a Body Blow to the GOP Money Machine

McCarthy’s Fall Is a Body Blow to the GOP Money Machine

October 6, 2023 at 9:19 am ET By Taegan Goddard Leave a Comment

“For all his flaws, Kevin McCarthy fully earned his reputation for being, as one GOP operative put it, ‘a money fucking factory for Republicans.'” the Daily Beast reports.

“In the 2022 cycle alone, McCarthy raised over $27 million for his Majority Committee PAC, spending almost all of it on his colleagues—even 14 of the 20 GOP members who fought for days in January to block him from winning the speaker’s gavel.”

“With McCarthy now relegated to the House Republican rank and file after his historic ouster from the speakership this week, the campaign cash void he leaves behind might be as concerning to Republicans as the literal power vacuum in the House.”

Earlier for members: House Republicans Lost Their Best Fundraiser

Filed Under: House of Representatives

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Taegan Goddard is the founder of Political Wire, one of the earliest and most influential political web sites. He also runs Political Job Hunt, Electoral Vote Map and the Political Dictionary.

Goddard spent more than a decade as managing director and chief operating officer of a prominent investment firm in New York City. Previously, he was a policy adviser to a U.S. Senator and Governor.

Goddard is also co-author of You Won - Now What? (Scribner, 1998), a political management book hailed by prominent journalists and politicians from both parties. In addition, Goddard's essays on politics and public policy have appeared in dozens of newspapers across the country.

Goddard earned degrees from Vassar College and Harvard University. He lives in New York with his wife and three sons.

Goddard is the owner of Goddard Media LLC.

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