North Carolina: Challengers Have More Cash Than McHenry
Updated: 11:37 a.m.
There are always a handful of incumbents who raise eyebrows by allowing a pesky challenger to bank more than they do. But during the fourth quarter, Rep. Patrick McHenry (R) accomplished the even rarer feat of having two challengers report more receipts and cash on hand than he did, and both those challengers are from his own party.
McHenry raised about $112,000 during the fourth quarter of 2009 and had about $149,000 in cash on hand as of Dec. 31.
Iredell County Commissioner Scott Keadle, a dentist, topped those totals with about $270,000 in receipts from October to December and about $274,000 in the bank at the end of 2009. Another Republican, entrepreneur Vance Patterson, reported $250,000 in receipts and the same amount in cash on hand at the end of 2009.
Both challengers reached deep into their own pockets.
Keadle’s fourth-quarter receipt total was boosted in large part by the fact that, in December, he repaid most of the $250,000 loan he took out in September and then took out another $235,000 loan later that month.
Patterson, who filed for the race in late December, loaned his campaign all of the $250,000 he reported raising.
McHenry would have had more money in the bank if he hadn’t spent $50,000 last quarter repaying himself for some of his previous campaign loans.
“In light of the tough economy, we’re pleased with our fundraising and our chances in the next election,” McHenry spokesman Josh Kahn said.