According to a top watchdog group, the 2024 election cycle is on pace to be the second most expensive event in U.S. political history.
On Oct. 8, OpenSecrets, a nonprofit organization dedicated to covering the role of money in politics, issued a report estimating that more than $15.9 billion will be spent on the year’s federal elections.
Dollar for dollar, that is more money than the $15.1 billion that was spent on the 2020 elections. However, the 2020 amount rises to $18.3 billion in 2024 dollars when adjusted for inflation.
The report said a significant amount of the overall spending, about $5 billion, will have come from outside sources such as political action committees. That amount would far exceed the previous record….