MAHWAH, NJ – Frank Pallotta is officially running for the right to challenge Democrat Josh Gottheimer in 2020.
On Monday, the former Goldman Sachs and Morgan Stanley banking executive (who initially launched an exploratory committee back in March) filed with the Federal Election Commission (FEC). Pallotta’s formal move was accompanied by a web video released to the press.
“As I’ve talked to my friends and neighbors over the past few months, one thing has become clear to me – Washington, DC is broken. Josh Gottheimer had his chance and failed. This country has presented me and my family with extraordinary opportunities and I am humbled to announce my candidacy for Congress,” said Pallotta in a statement.
Gottheimer, a prolific fundraiser, is already sitting on a $5 million war chest but Pallotta, a Republican, is reportedly capable of self-funding a run, something which boosters say could prove a decisive advantage in a district which President Trump carried in 2016.
The NRCC placed NJ-05 on its official 2020 target list.