The historic campaign expenditure is divided between candidate committees and outside groups empowered by a 2010 Supreme Court ruling allowing unlimited political donations. In direct campaigning, Democratic candidates are projected to spend more than $2.2 billion, outpacing Republican candidates who are expected to spend $1.4 billion. Outside spending has also been heavily driven by massive donations, such as the $445 million contributed by Elon Musk to Republicans. At the same time, untraceable political funding passing through intermediary organizations is expected to top $1.5 billion, making the true origins of campaign financing difficult to track.
Key points
Untraceable dark money contributions are projected to reach a record-breaking $1.5 billio…: Untraceable dark money contributions are projected to reach a record-breaking $1.5 billion through layered funding networks.
Independent expenditure committees known as super PACs continue to channel hundreds of mi…: Independent expenditure committees known as super PACs continue to channel hundreds of millions into partisan political races.
Rising political spending raises significant concerns about the outsized influence of cor…: Rising political spending raises significant concerns about the outsized influence of corporations and wealthy contributors over elections.
Sources checked by our analysis pipeline: 1
Candidates, donors and super PACs are spending more than ever on political campaigns.
The US midterm elections are on track to be the most expensive for candidates and political donors in history. According to OpenSecrets, a research group that tracks money in US politics, close to a record $12bn has been spent by candidates and outside political groups on campaigning.
The world’s richest man, Elon Musk alone has given $445 million to the Republicans, according to campaign finance records.
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Critics have questioned the huge sums of money being spent to sway voting during an election cycle in which the cost of living and affordability have been the key issues in most campaign agendas.
They argue that campaign spending policy gives wealthy donors, corporations and special interest groups outsized influence over candidate and policy selection.
Liberal Democrat MP Caroline Voaden revealed that Reform UK leader Nigel Farage shoved her during the King's Speech procession after she told him to wait his turn on the stairs. Parliamentary authorities requested that Farage deliver a written apology for the physical encounter, but Voaden confirmed the letter was never provided. The disclosure follows Farage referencing the altercation publicly to justify missing the recent budget proceedings.
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