The effort will include new money to several groups, including a revival of Bloomberg’s own political vehicle, Independence USA, and donations to the House Majority PAC, a group closely associated with House Speaker Nancy Pelosi (D-Calif.), said the Bloomberg adviser, who spoke on the condition of anonymity to discuss the internal planning.
“Mike’s view is that the investments he made last time are some of the best investments he has ever made,” the adviser said Monday about the House races. “We are going to be looking at the same kinds of places, which is to say suburban, swing districts. There will be some overlap with presidential contest states.”
Pelosi issued a statement on Monday welcoming Bloomberg’s continued support of House Democrats.
“Mike Bloomberg played a role that was pivotal to our success two years ago,” Pelosi said in a statement. “We are so glad that he is staying in the fight to protect and expand the Democratic majority in the House.”
The $60 million commitment, which includes more than $10 million already given to House Majority PAC, comes on top of other spending he has made to help Democrats this year. After funding state parties around the country during his suspended presidential campaign, Bloomberg transferred $18 million in cash to the Democratic National Committee in March. He also made a $35 million commitment to fund a data consulting firm, Hawkfish, which has been working with the DNC and outside groups that support Democrats.
A separate group Bloomberg funds, Everytown for Gun Safety, has committed to spending an additional $60 million on elections this year, though the amount of money Bloomberg is personally giving to the group has not been disclosed. He has also given millions more to groups such as Swing Left, which is focused on winning state legislative seats in key states, and Fair Fight, a voter protection effort led by Stacey Abrams, a former Democratic gubernatorial candidate in Georgia.
One of the wealthiest people in the world, with a net worth over $50 billion, Bloomberg entered the Democratic presidential race late last year, after concluding that Democrats were about to nominate a candidate other than Biden who would struggle to defeat President Trump in a general election. He spent more than $1 billion on the effort, according to Federal Election Commission records, including hundreds of millions on television and digital ads attacking Trump.
Bloomberg’s advisers had always said his long-shot campaign efforts earlier this year served two purposes: to elect Bloomberg president and to soften up Trump if another Democrat became the nominee. Upon exiting the race, Bloomberg endorsed Biden and said in a statement, “I will work to make him the next president of the United States.”
But Bloomberg has not yet announced whether he will spend more money on television and digital ads to help Biden, or whether he will repeat his $20 million 2018 effort to help Democrats take the U.S. Senate. In 2018, he ended up investing millions on campaign efforts through Emily’s List, a group that supports female candidates, the League of Conservation Voters and the political arm of Planned Parenthood.
Bloomberg’s money supported 24 Democratic House candidates in Republican-held seats in 2018, with 21 of the candidates winning. One of those winners, Rep. Katie Hill (D-Calif.), has since left office, which allowed a Republican to retake the office in a special election. The adviser said Bloomberg’s team was already reviewing polling data to identify vulnerable House Republicans.
“The map is much more hospitable to Democrats and the administration is every bit as hospitable,” the adviser said about the shift since 2018.
Biden has long maintained an affable relationship with Bloomberg, having encouraged his spending in the Democratic primary even when they were running against each other.
“Mike, I want to thank you,” Biden told Bloomberg in May, after joining a virtual meeting of mayors organized by Bloomberg. “You always step up.”
Bloomberg is scheduled to address the Democratic convention on Thursday in support of Biden’s candidacy. He previously spoke at the 2016 Democratic convention in support of former secretary of state Hillary Clinton and at the 2004 Republican convention in support of President George W. Bush’s reelection.