2024 election projected to be most expensive ever, $15.9 billion in spending

Oct 10

Ray Bogan Political Correspondent

By Ray Bogan (Political Correspondent)

The 2024 election will be the most expensive ever with an overall price tag of $15.9 billion. According to OpenSecrets, a nonpartisan organization that tracks money in U.S. politics, this year’s elections will break the $15.1 billion record set in 2020.

“There may be a saturation point where elections can no longer get more expensive, but we haven’t reached it yet,” OpenSecrets Deputy Research Director Brendan Glavin said in a statement. “Super PACs and billionaires continue to spend more and more hoping to select our elected officials. And right now it is looking as though there isn’t a ceiling to how much an election in the U.S. can cost.”

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According to OpenSecrets’ research, the top 10 individual donors in the country have contributed $599 million or about 7% of the total federal election fundraising. Small donors, who give under $200, account for about 16%.

Outside groups, including super PACs, have spent $2.6 billion up to this point and are projected to spend $5 billion by Election Day.

“Spending on the 2024 election cycle started slowly but ramped up significantly when Vice President Harris took over the Democratic nomination,” OpenSecrets Director of Research and Strategy Sarah Bryner stated.

OpenSecrets data shows Vice President Kamala Harris’ campaign and supporting groups have raised more than $1 billion since she replaced President Joe Biden at the top of the ticket in July. Former President Donald Trump’s campaign and supporting groups have brought in $642 million.

Tags: 2024 Elections, Campaign donations, Campaign funding, Donald Trump, Election, Kamala Harris

The 2024 election will be the most expensive ever – with an overall price tag of $15.9 billion. According to OpenSecrets, a non-partisan organization that tracks money in US politics, this year’s elections will break the $15.1 billion record set in 2020.

Brendan Glavin, OpenSecrets’ Deputy Research Director said in a statement: “There may be a saturation point where elections can no longer get more expensive, but we haven’t reached it yet.”

He added: ”Super PACs and billionaires continue to spend more and more hoping to select our elected officials. And right now it is looking as though there isn’t a ceiling to how much an election in the U.S. can cost.”

According to Open Secrets research, the top ten individual donors in the country have contributed $599 million or about 7% of the total federal election fundraising. Small donors, who give under $200, account for about 16%.

Outside groups, including SuperPACs, have spent $2.6 billion up to this point and are projected to spend $5 billion by election day.

Sarah Bryner, OpenSecrets’ Director of Research and Strategy stated: “Spending on the 2024 election cycle started slowly but ramped up significantly when Vice President Harris took over the Democratic nomination.”

Open Secrets data shows Harris’ campaign and groups supporting her have raised more than $1 billion since she replaced President Biden at the top of the ticket in July. Trump’s campaign and groups supporting him have brought in $642 million.