A moment from Joe Carvin's ad. (Photo: YouTube)

Rye Town Supervisor Joe Carvin, a Republican hedge fund manager who has invested $1 million into his own campaign for congress, looks like he's ready to start putting that money to work and announced his first television ad this morning. The commercial was described as a "sharp contrast ad" by the Carvin campaign, an accurate description as it both blasts incumbent Rep. Nita Lowey and praises Mr. Carvin.

"Washington politicians have failed us," he ad declares, throwing a notable drum beat after each point. "Jobs are scarce. Federal debt has skyrocketed. Taxes in Westchester and Rockland are out of control. Nita Lowey has been in congress for 24 years, she is part of the problem."

Then, after showing a rather unflattering black-and-white photo of Ms. Lowey, the ad pivots to a soft pitch for Mr. Carvin's candidacy.

"Joe Carvin knows how to fix the economy," the narrator continues as pleasant music arrives. "As Rye Towns supervisor, he has a record of cutting taxes and spending and has been working to eliminate his own job as supervisor because he believes government is too big."

Although Mr. Carvin has plenty of campaign cash to push his message, Ms. Lowey's war chest is also flush with more than a million dollars, leaving her well-prepared to defend her record in the Democratic-leaning district.

The majority of the seat is new turf for her after redistricting, but as President Barack Obama won about 58% of the vote in the new district's boundaries in 2008, Ms. Lowey is not widely thought to be one of the more vulnerable incumbents in the state.

Update: Ms. Lowey's campaign spokesman Matt Dennis responds:

"Congresswoman Lowey is proud to serve the people of Rockland and Westchester by fighting for critical priorities like job creation, homeland security, and the protection of Social Security and Medicare for current and future retirees.  Instead of distorting the Congresswoman's record with negative ads, Mr. Carvin should explain his support of the radical Ryan budget that would end Medicare as we know it, saddle seniors and the middle class with devastating new expenses, and harm our economy by eviscerating essential investments in education, research, and infrastructure."

Watch below:

Joe Carvin (photo: townofrye.com)

Joe Carvin, a Rye Town Supervisor and hedge fund manager, has contributed over $1 million into his congressional bid against Nita Lowey, according to his latest FEC filing.

Mr. Carvin, a Republican, had initially begun a campaign against Senator Kirsten Gillibrand promising to invest a similar amount, but that was for a statewide run and it was unknown if he would invest a similar amount into a more contained campaign for a Westchester County-based Congressional District.

In addition to an investment of $1,032,000, Mr. Carvin also raised more than $75,000, but that gigantic total sum might not bring him that far ahead of Ms. Lowey, who last reported having more than $890,000 on hand three months ago.

However, both candidates will need to expend significant resources introducing themselves to voters unfamiliar with their record. Although Ms. Lowey's district remains rather Democratic after redistricting, the majority of it is still new turf for her.

Update: Ms. Lowey reported this evening that she raised $270,000 and has close to a million dollars on hand.

“Joe Carvin is definitely in,” Rockland County GOP chairman Vinny Reda told Gannett Albany.

The Republican candidate originally in the race, Mark Rosen, will drop out and endorse Mr. Carvin.

Ms. Lowey, who is seeking reelection in the newly redrawn 17th Congressional District, starts out as the favorite in the race due to her incumbency and the district's blue hue. Her district became slightly more Republican in redistricting, going from one that supported Barack Obama by a 62% margin in the 2008 presidential election to one that gave him a still-substantial 58% of the vote.

However, half of Ms. Lowey's new district will be voters from previously adjoining districts, and her advantage of incumbency with these new voters may be limited.

Mr. Carvin, who struck a somewhat moderate profile during his short-lived Senate campaign, has one additional significant advantage: money. If he is willing to invest the same million dollars in his Congressional bid as he had vowed to do for statewide office, the race would be significantly more competitive.

As Capital Tonight first reported, Rye Town Supervisor and hedge-fund manager Joe Carvin is no longer seeking the Republican nomination to challenge Senator Kirsten Gillibrand this November.

"My number one goal in entering the race was to ensure that the Republican Party had a nominee capable of defeating Ms. Gillibrand in November," Mr. Carvin said in  statement this morning. "But in the last several days - after Ms. Gillibrand was ranked the most left-wing senator in America by National Journal and after she voted for higher gas prices by opposing the Keystone XL Pipeline - I believe any of the candidates in this race can beat her."

Mr. Carvin saw a substantial amount of oxygen taken up by Rep. Bob Turner's entry into the race, and, indeed, the two candidates even shared the same key political advisers.

Candidates who wish to be automatically placed on the Republican primary ballot this June need 25% of the weighted county vote at the state convention this weekend, and Mr. Carvin had been lacking in these endorsements compared to Mr. Turner and his two other rivals, Nassau County Comptroller and attorney Wendy Long. However, Mr. Carvin dismissed concerns that he may not have reached this threshold.

"I am one hundred percent confident that I would have received the 25% of the Republican delegate vote necessary to get on the ballot, but I am now comfortable that my party is well represented," he said.

"This has been a tremendously uplifting experience and I am extraordinarily grateful to all those around the state who have supported me in ways large and small over the past few weeks."

Whoever the Republican nominee is will face an uphill battle against Ms. Gillibrand in the general election. She soundly won reelection in 2010 has already raised $10 million so far for 2012.

George Maragos (Photo: Facebook)

This morning, Nassau County Comptroller George Maragos announced another notable endorsement in his quest for the Republican nomination to challenge Senator Kristen Gillibrand. The Queens County Republican Party threw its support to Mr. Maragos, which should place him over the 25% threshold he needs at the state convention to automatically be on the primary ballot this June.

“New York is a melting pot of immigrants from all over the world who have built our great city and in doing so have achieved the American Dream," Queens County Republican Chairman Phil Ragusa said in a statement about the Greek-born Mr. Maragos. "George Maragos is an example of the American Dream and will be an outstanding voice in Washington for the best interest of all New Yorkers. The Queens County GOP proudly endorses Mr. Maragos.”

In the same statement, Mr. Maragos said he was "deeply honored and humbled by the endorsement of Chairman Ragusa” and attacked Ms. Gillibrand for "consistently voted for bills that have destroyed or sent thousand of jobs overseas, many from right here in Queens.”

Recently, Mr. Maragos received the endorsement of the state's top Republican official, Majority Leader Dean Skelos, as well.

He is competing against two other Republican candidates for the nomination: Rye Town Supervisor Joe Carvin, who's also a hedge-fund manager, and attorney Wendy Long.

Joe Carvin (Photo: Capital Tonight)

Joe Carvin is taking an interesting path in his quest to unseat Democratic Senator Kirsten Gillibrand this year.

Last night, the recently announced candidate, who's also a wealthy hedge-fund manager and town supervisor for Rye up in Westchester County, told Capital Tonight's Liz Benjamin he's "absolutely" pro-choice and Congressman Paul Ryan is "my hero."

When asked if his pro-choice stance could be a problem in a conservative Republican primary, Mr. Carvin replied, "No, not at all. I think what we have to focus on is what's fundamental. I think unfortunately the social issues are more of a distraction."

Mr. Carvin moved on to doubt the significance of social issues in a candidate's biography, saying he doesn't know what a pro-life candidate "really means."

"We have settled law in Roe v. Wade," he explained. "I can't imagine that somebody thinks they're going to be elected to the Senate and overturn Roe v. Wade."

Ms. Benjamin tried to connect the issue to something tangible and see how Mr. Carvin would vote on it. When asked whether he supports the controversial Blunt Amendment, which would allow an opt-out for contraception in health care coverage, Mr. Carvin basically declined to comment.

"I don't have a view on the Blunt Amendment," he responded. "What I want to talk about is the fiscal crisis."

The solution to the fiscal situation, he said, was "fundamental entitlement reform." Even though Democrats in New York have successfully hammered Republicans for supporting Wisconsin Congressman Paul Ryan's Medicaid-cutting economic plan, Mr. Carvin embraced it entirely.

"Paul is my hero," he said. "I'm running because Paul Ryan needs help. Paul Ryan is my hero."

Two other GOP candidates are currently campaigning in for the June 26th primary: Nassau County Comptroller George Maragos and attorney Wendy Long.

Joe Carvin

Joe Carvin, a wealthy hedge-fund manager and the Rye Town supervisor in Westchester County, announced today he will be entering the Republican primary for New York's U.S. Senate seat. If he's successful in the primary, he will be challenging Senator Kirsten Gillibrand in November.

And to prove he's serious, Mr. Carvin told the Wall Street Journal he will be investing $1 million into his campaign and intends to raise $5 million to $10 million more.

“I have decided to run for the office of U.S. Senate because I believe that our representatives in Washington have provided us with an economic framework that severely undermines our competitive position in the world today,” Mr. Carvin said in a statement to Gannett today.

Mr. Carvin joins a GOP primary that already has two notable candidates already running: attorney Wendy Long and Nassau County Comptroller George Maragos. Mr. Maragos said he has already invested $1 million into his campaign himself, and will invest $5 million if he wins the primary. For her part, Ms. Gillibrand already has over $10 million in her war chest.

Mr. Carvin also told the Wall Street Journal he is interested in hiring E. O'Brien Murray as his campaign manager. In addition to managing Congressman Bob Turner's successful special election last summer, Mr. Murray worked on the campaign of another would-be challenger to Ms. Gillibrand, Marc Cenedella, who declined to run after a storm of criticism of some controversial blog posts.

A spokeswoman for Ms. Gillibrand told the Journal that she "looks forward to contrasting her vision for growing the economy and her strong record of fighting for New York values against whomever the Republicans ultimately choose to run against her."