Perhaps the most contested election ever in American history, the 2020 election also stands out for how it expensive it ways. Karl Evers-Hillstrom has this story in OpenSecrets:
Political spending in the 2020 election totaled $14.4 billion, more than doubling the total cost of the record-breaking 2016 presidential election cycle.
That’s according to OpenSecrets’ analysis of Federal Election Commission filings. OpenSecrets previously estimated that the 2020 election would cost around $14 billion. The extraordinary spending figure makes the 2020 election the most expensive of all time by a large margin.
The pricey presidential showdown between Joe Biden and Donald Trump was funded by an unprecedented number of small donors giving online and billionaires who wielded tremendous political influence over the last decade. Donors also fueled record spending in congressional races, capping off the 2020 election with the all-time most expensive Georgia Senate runoffs.