Corporations and the wealthy have broken their record for the highest amount ever spent on a midterm election — with weeks still to go until Election Day.
— reached roughly $1.34 billion, topping 2018’s record of $1.32 billion.
As OpenSecrets notes, there were still 25 days until the election on Friday, meaning that the amount of spending is set to rise precipitously as Election Day approaches. If it continues at this pace, in fact, outside spending could even surpass the amount of money spent by outside groups in 2020, even though presidential election cycles typically see far more spending than midterm elections do.
Republican-aligned groups have been the largest spenders this cycle so far, the report finds. The GOP’s Senate Leadership Fund and the Congressional Leadership Fund, which support Republicans’ Senate and House races, respectively, have collectively spent $259 million so far. This is far more than the amount that the Democrats’ two main congressional funds have spent, at about $107 million.
Senate races in Pennsylvania, Georgia, Nevada and Wisconsin have seen the most outside spending, with tens of millions of dollars being poured into each race. These races are particularly important, as control of even one extra seat for Republicans would give the party the majority in the chamber.
While both major parties benefit from dark money and outside spending, progressive and leftist candidates are often targeted by these groups. Progressive candidates either stand up against the deep-pocketed interests who fund outside groups or will outright refuse to take money from dark money groups in order to signal their loyalties to voters.
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