This post from Open Secrets is by Taylor Giorno and Pete Quist. Here is an excerpt:
The total cost of 2022 state and federal midterm elections is projected to exceed $16.7 billion, according to a new OpenSecrets analysis. Federal candidates and political committees are expected to spend $8.9 billion, while state candidates, party committees and ballot measure committees are on track to raise $7.8 billion.
Election-related spending at the federal level has already blown past the inflation-adjusted 2018 midterm record of $7.1 billion. State-level candidate, party committee and ballot measure committee expenditures could surpass the estimated 2018 midterm spending record of $6.6 billion, adjusted for inflation.
“No other midterm election has seen as much money at the state and federal levels as the 2022 elections,” said Sheila Krumholz, OpenSecrets’ executive director. “We’re seeing record-breaking totals spent on elections up and down the ballot.”
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