Election 2020 - the most expensive 14 billion USD race in US history 0Election 2020 - the most expensive 14 billion USD race in US history 0

This figure is double the cost of the election four years ago, according to estimates by the Center for Responsive Politics (CRP).

The biggest driver of political spending this year certainly belongs to the race for the White House, especially the huge sums of money spent on efforts to help Democratic candidate Joe Biden defeat his Republican opponent.

An election campaign of US President Donald Trump in Sanford, Florida, October 12.

Their election campaign alone is expected to cost about $6.6 billion, more than the amount spent on the White House race and every congressional campaign in 2016 combined.

Most of the money spent was on television advertising, with ads for the presidential race reaching about $1.8 billion, according to advertising analysis firm Advertising Analytics.

Biden’s campaign committee, which has raised $983 million as of October 14, is on track to raise more than $1 billion.

But it’s not just the presidential race that is sending costs to new heights.

8 of the 10 most expensive Senate races in US history took place in 2020. In North Carolina, the total amount of money spent by two candidates, Republican Senator Thom Tillis and Democratic opponent Cal Cunningham,

This is one of four Senate races with costs exceeding $200 million this year, the other three include Iowa, South Carolina and Arizona.

In South Carolina, Jaime Harrison, the Democratic candidate challenging Republican Senator Lindsey Graham, broke a fundraising record in the third quarter, raising more than $57 million.

The Democratic Party is financially dominant in this year’s election.

Retail backers increased significantly this year, accounting for 22% of total funds raised, compared to 15% in 2016.

ActBlue, the Democratic Party’s online donation platform, has received more than $3.3 billion this year.

Not only the way of donating but also the type of donors also changes over time.

According to CPR, women who donated over $200 contributed nearly $1.3 billion to the Democratic Party while to the Republican Party it was $570 million.

US Democratic presidential candidate Joe Biden at a campaign event in Atlanta, Georgia, October 27.

Huge backers still have strong influence.

Media billionaire Michael Bloomberg, the Democratic Party’s biggest supporter, has donated $107 million to Democratic party committees.

Some big new backers have emerged in Silicon Valley.

Dustin Moskovitz, co-founder of Facebook, also donated more than 24 million USD, mainly to the super campaign committee Future Forward, which specializes in broadcasting anti-Trump ads.

However, the leading place in terms of cash donations for election campaigns is still Wall Street, with over 255 million USD from investors and securities, of which 161.7 million USD went to the Democratic Party and 94,

Vu Hoang (According to NYTimes)

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