Tags: Election | Spending | Record | Billion | Trump | Biden

Election Spending Projected to Double 2016's with Almost $14 Billion

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By    |   Wednesday, 28 October 2020 04:06 PM

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.”

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Election spending ahead of November 4 is expected to hit about $14 billion, more than doubling the amount spent on the 2016 general election...
Election, Spending, Record, Billion, Trump, Biden
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2020-06-28
Wednesday, 28 October 2020 04:06 PM
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