This article published by Open Secret is by Taylor Giorno. Here is an excerpt:
Following historic 8% inflation in 2022, the Federal Election Commission announced new contribution limits for the 2024 election cycle on Thursday.
The Bipartisan Campaign Reform Act of 2002 established limits for contributions by individuals to candidates and national party committees starting with the 2004 election cycle. The commission increases contribution limits every odd-numbered year to reflect changes in inflation. Inflation skyrocketed in 2022 to the highest level in four decades, and unprecedented contribution limit increases reflect the historic economic heat.
Individual donors can now give $3,300 per candidate per election, an unprecedented $400 increase from $2,900 during the 2022 election cycle. That means between the primary and general elections, a donor can give a candidate up to $6,600 — or $9,900 if a race advances to a runoff.
Read the full article here.
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