Election spending ahead of November 4 is expected to hit about $14 billion, more than doubling the amount spent on the 2016 general election, CNBC reports.
The Center for Responsive Politics, a nonpartisan organization, found that the amount of money spent on presidential and congressional campaigns in the 2020 election will reach almost $14 billion, with $6.6 billion in total spending expected on the presidential race, and over $7 billion is expected on various congressional races.
In previous presidential election years, the amount spent on both presidential and congressional races never surpassed $7 billion. An estimated $2.3 billion was spent on the 2016 presidential race, with an estimated $4.1 billion spent on congressional races that year. In 2012, $2.6 billion was estimated to have been spent on the presidential race, with an estimated $3.6 billion spent on congressional races.
“Democratic presidential nominee Joe Biden will likely become the first candidate in history to surpass $1 billion in fundraising from donors, with more than $938 million brought in so far. President Donald Trump has raised $596 million, far short of his rival’s total.
“When Citizens United was decided 10 years ago, conservatives were the quickest to jump on the newly permissible outside groups as a way to facilitate huge donations,” Sarah Bryner, research director at the Center for Responsive Politics, said in a statement. “Now, liberal groups have more than made up the difference and are taking advantage of every opportunity available to get their message out.”
Theodore Bunker ✉
Theodore Bunker, a Newsmax writer, has more than a decade covering news, media, and politics.
© 2026 Newsmax. All rights reserved.