Republican David McCormick defeated Democratic Senator Bob Casey in Pennsylvania, in keeping with the Related Press, marking an upset that noticed a former CEO of a hedge fund big trounce a scion of a political dynasty in a 12 months outlined by appeals to the working class.
McCormick’s victory successfully offers Wall Avenue a Senate seat forward of main battles in Congress subsequent 12 months over expiring Trump-era tax cuts and increasing the federal debt restrict. The win, which is being contested by Casey’s crew, additionally underscores how GOP’s electoral fortunes are surging on this intently divided swing state.
“This race is inside half a degree and can’t be referred to as whereas the votes of hundreds of Pennsylvanians are nonetheless being counted,” Casey’s marketing campaign mentioned in a press release on Thursday. The Pennsylvania Secretary of State individually mentioned there are a minimum of 100,000 ballots that have to be “adjudicated,” urging persistence particularly in contests the place margins are very shut.
The previous head of Bridgewater Associates, 59, rode a wave of enthusiasm for Donald Trump and a tide of cash from out-of-state billionaires throughout rural counties and exurbs of battleground Pennsylvania, enjoying up his childhood roots whereas heading off Democratic fees of carpetbagging. These years dwelling exterior the state included fight service within the first Gulf Struggle, roles within the George W. Bush administration, and greater than a decade as CEO of the Connecticut-based hedge fund.
The GOP’s win in Pennsylvania provides to the get together’s new Senate majority, following the defeats of incumbent Democrats Sherrod Brown in Ohio and Jon Tester in Montana, in addition to Republican Jim Justice’s win within the open Senate seat in West Virginia.
Learn Extra: Republicans Win Management of US Senate Forward of Vital Tax Combat
Because of its important standing within the Electoral Faculty, each presidential campaigns poured spending in Pennsylvania, flooding the state with junk mail and advertisements, criss-crossing with candidates and surrogates, and fielding small armies of door-knockers to attempt to convey out as lots of its 9 million registered voters as potential.
Massive Donors
Casey held a persistent lead in public polls because the senator and his allies painted McCormick as one who lacks significant Pennsylvania connections, having purchased a house in Pittsburgh solely in 2021, simply earlier than he made his first, unsuccessful Senate run in 2022.
Surrogates for Casey, together with Senator Elizabeth Warren of Massachusetts, highlighted McCormick’s help from conservative billionaires, suggesting he had little in widespread with the state’s working-class voters. Citadel founder Ken Griffin gave a minimum of $15 million to Keystone Renewal, an excellent political motion committee affiliated with McCormick.
Different donors to the super-PAC embody Interactive Brokers Chairman Thomas Peterffy, Elliott Administration Corp. founder Paul Singer, Uline Inc. leaders Elizabeth and Richard Uihlein, Antonio Gracias, founding father of Valor Fairness Administration, Blackstone Inc. Chairman Stephen Schwarzman and Wynn Resorts Ltd. Founder Stephen Wynn.
McCormick contributed a minimum of $4 million of his personal cash to the marketing campaign.
In a flurry of TV and on-line advertisements, McCormick’s camp portrayed Casey as out of contact, hammering him specifically for his help of the Biden administration’s financial insurance policies, and warning he could be an asset to Vice President Kamala Harris, whom they painted as an out-of-control leftist.
The advert siege lastly managed to undo what had been Casey’s strong edge: his household identify. Previous to his Senate profession, Casey served in statewide workplaces, together with treasurer, since 1997. His father, Bob Casey Sr., was a two-term Pennsylvania governor, and political veterans of each events thought-about his identify recognition an amazing asset in shut elections.
(Updates with Casey and Pennsylvania state’s feedback in third paragraph.)
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