Scoop: Thune's Senate super PAC amasses $238 million war chest

• "I know there were some questions about who the next majority leader would be and can they fundraise at the level of Mitch McConnell," Senate Leadership Fund executive director Alex Latcham told Axios.
• "And I think those questions have certainly been put to rest."

Driving the news: As of the end of June, SLF had $238 million in cash on hand, according to figures first provided to Axios.

• That's up from $117 million at the same point in 2024 and $104 million in 2022.
• In the second quarter, SLF, along with its nonprofit affiliate One Nation, raised $140 million — topping the $115 million raised in Q1.
• The groups collectively raised $76.6 million in Q2 of 2024 and $76 million in 2022.

The other side: Senate Majority PAC, the main Democratic Senate super PAC and its nonprofit affiliate, aligned with Senate Minority Leader Chuck Schumer (D-N.Y.), slightly outraised Republicans for the quarter — bringing in $147 million, the New York Times reports.

• But the Democratic super PAC has just $126 million in cash on hand.
• And SMP alone — not counting its nonprofit affiliate, Majority Forward — raised $58 million in the second quarter, compared to the $78.2 million that SLF raised on its own (without One Nation).

What they're saying: Latcham credited the haul to Thune's work ethic and a push to bring in new donors.

• Roughly one-third of the group's donors are giving to SLF for the first time, he said.

What to watch: The group is doubling down on protecting GOP seats, including in red states like Iowa and Ohio, as Axios first reported.

• SLF and One Nation also plan to spend roughly $100 million on offense in New Hampshire, Georgia and Michigan.
• But there are limits on how and when nonprofits like One Nation can spend — including in key states such as Georgia and North Carolina. Races without an incumbent on the ballot also come with additional hurdles.