Bloomberg: “Political campaigns are expensive in the US and keep getting pricier. Spending on presidential and congressional elections totaled $14.4 billion in the 2020 election, more than double the record amount spent on the race four years earlier. For the 2024 election scheduled for Nov. 5, candidates and groups supporting them had already raised more than $14.8 billion as of Aug. 31, Federal Election Commission records show, with the biggest fundraising still ahead.”
“Just a third of the $14.8 billion was raised by candidates and political parties. The rest is money donated to political action committees, which often represent business, labor, professional or ideological interests. They include so-called super PACs, groups that can support campaigns as long as they are nominally independent from them. Unlike the other campaign spenders, super PACs can accept unlimited contributions from donors.”
