Candidates have shifted the way they spend-less on travel and events, more on media and advertising.
11/2/2020 11:00
According to an early estimate from the Center for Responsive Politics (CRP), the 2020 election is likely going to be the most expensive ever, with total spending approaching $11 billion, CNBC reports.
Adjusting for inflation, that makes the 2020 race 50% more expensive than the race in 2016.
The CRP says it’s seen $7.2 billion in spending so far from congressional and presidential candidates, political action committees, super PACS, and party committees, and expects spending will increase dramatically after third-quarter figures are reported to the Federal Elections Commission.
Spending on congressional races is projected at $5.6 billion, a 37% increase compared to the last presidential cycle, and spending in the presidential race is projected to hit nearly $5.2 billion.
While spending varies depending on the candidate or committee, the CRP found that because of the COVID-19 crisis, candidates have changed the way they spend –spending less on travel and events compared to the 2016 election, but much more on media, including TV and online ads.