Rep. Patrick McHenry on Wednesday will relaunch his political action committee, moving to fundraise his way to greater clout in the House and create opportunities for his party to recapture the majority in 2020.
McHenry, 43, is now the top Republican on the influential Financial Services Committee after spending four-plus years as chief deputy to the GOP whip, Rep. Steve Scalise of Louisiana. With House Republicans in the minority for the first time in nearly a decade, the ambitious North Carolina Republican decided to recalibrate his political operation, expanding his existing organization and christening it “Innovation PAC.”
In an interview with the Washington Examiner, McHenry said he appreciated his time in leadership but looked forward to operating without the political shackles that come with being a part of the elected conference leadership team.
“I can now independently drive policy in my own voice, and that is liberating,” he said. “I want to make sure I’m talking in the terms I think we should be talking in as a party and how we can better position ourselves to win elections and get results to help the American people.”
McHenry was elected to the House in 2004 at age 29. He has been considered a rising star ever since. Republican insiders who have worked with the congressman describe him as a shrewd operator and effective legislator who aspires to become speaker of the House.
The announcement of McHenry’s new political action committee will be accompanied by a splashy biographical video and a glitzy Washington launch party on Wednesday evening, with 300 people slated to attend, his team said. In all, McHenry’s stepped-up political activity is a part of a strategy to expand his profile within the Republican Party and elevate his role.
House Financial Services certainly offers McHenry a platform. The committee’s chairman is Rep. Maxine Waters of California and its membership includes Rep. Alexandria Ocasio-Cortez of New York — two Democrats who typically elicit the ire of the Republican base. McHenry could use that dynamic to build his brand with the grassroots.
On policy, McHenry is pushing legislation that would promote new technology to ease costs and facilitate access to banking for consumers.
“I’m focused much more on policy, but I need to make sure we have money for the team so that we don’t get outraised,” McHenry said.
To that end, supporting Republican incumbents and challenger candidates, as well as the National Republican Congressional Committee, will be McHenry’s top political priority. Through Innovation PAC, and in conjunction with the other political committees McHenry controls, he plans to raise and donate millions of dollars over the course of the 2020 election cycle.
During the 2018 cycle, McHenry raised a combined $16.35 million when including money contributed to his political organization and the work he did to help the NRCC and other Republicans fill their coffers. His goal over the next two years is to surpass that.
