Spending in this year’s midterm elections is going to set a new record, topping $5 billion, according to the Center for Responsive Politics.
More than $3.7 billion has already been spent, and with weeks still to go before Election Day, the CRP figures the final tally will be $5.2 billion.
“We expected to see the numbers climb, as they typically do, but the astonishing spike in campaign donations is a solid indicator of the intensity driving this year’s campaigns,” said Sheila Krumholz, executive director of the center, which runs the campaign data website OpenSecrets.org.
Democratic candidates are outspending Republican candidates, and if trends continue the CRP says final tallies will be $2.5 billion spent to elect Democrats and $2.2 billion spent for the GOP.
In 2014, the last midterm cycle, each party spent about $1.8 billion.