House Majority PAC, a political action committee backing
Democrats, will spend at least $186 million on federal races in 2024, according to the organization. In a statement, HMP said the campaign will hit 58 different media markets. Most of the spending, $146 million, will go toward television, and the remainder will go toward digital ad placements. The group called it an “initial round of reservations,” setting up the possibility of more spending later in the year. However, according to its announcement, HMP’s initial outlay of $186 million is much larger than the $102 million it spent in 2020. “Through these historic television and digital reservations, House Majority PAC has made it clear that we are ready to do whatever it takes to flip the House and elect Hakeem Jeffries the next speaker,” HMP President Mike Smith said in the release. After a slew of resignations, the
Democratic Party holds 213 seats in the lower chamber while the
Republican Party holds 218. As of April 8, there are four empty chairs. According to its release, HMP is planning to spend more than $1 million in 39 markets. Its top five markets are
Los Angeles ($19.2 million),
New York ($16.1 million), Portland, Oregon ($9.5 million), Detroit ($8.4 million) and
Las Vegas ($6.8 million). HMP is closely tied to the 501(c)(4) nonprofit House Majority Forward. As a nonprofit group, House Majority Forward is not required to disclose its donors or release financial information as often as an FEC-registered PAC. For this reason, this type of nonprofit is commonly called a dark money organization. In the current
election cycle, covering 2023 and 2024, HMP has collected about $8.3 million in donations from House Majority Forward, according to the FEC. HMP has also received significant donations from a group tied to the United Brotherhood of Carpenters and Joiners union. According to FEC records, the super PAC Working For Working Americans-Federal sent HMP $7 million in the current cycle. HMP is also cashing checks from Democratic Party megadonors James Simons and Fred Eychaner. Mr. Simons, according to FEC records, gave $2 million to HMP in December 2023. Mr. Simons, currently the president of Euclidean Capital, is one of the founders of hedge fund Renaissance Technologies. Mr. Eychaner, according to FEC filings, gave $2 million to HMP in June 2023.