Aug 18, 2020 - Politics & Policy

Bloomberg pledges $60 million in bid to help Democrats retain House

 Mike Bloomberg addresses his staff and the media after ending his presidential campaign.

Photo: Spencer Platt/Getty Images

Mike Bloomberg, former New York City mayor, pledged $60 million to help House Democrats try and strengthen their majority in November, the Washington Post reports.

Why it matters: The billionaire's pledge nearly matches what he contributed to help Democrats flip the House in 2018. Bloomberg has deep pockets that allowed him to finance his own presidential campaign earlier this year.

The state of play: Of the money, more than $10 million has already been given to House Majority PAC, per the Post.

  • The money will be used to fund digital and television ads for some of the 20 freshman Democrats Bloomberg helped in 2018.
  • Some of the spending will be aimed at unseating Republican incumbents.
  • 21 of the 24 Democrats Bloomberg supported in 2018 won their races.

Yes, but: Bloomberg did not say how much more money he will spending on television and digital ads to help Biden or if he will help Democrats take the Senate.

What they're saying: Speaker of the House Nancy Pelosi issued a statement saying, "Mike Bloomberg played a role that was pivotal to our success two years ago. We are so glad that he is staying in the fight to protect and expand the Democratic majority in the House."

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