Fueled by America’s ever-growing billionaire class, campaign spending is outpacing by-elections at the federal and state levels, they broke all records. Much of that money goes through unregulated campaign superteams, which are heavily funded by big Republican donors. Organization Open Secrets It is estimated that total campaign spending in 2021 and 2022 is expected to reach $16.7 billion, surpassing the $14 billion spent in 2018.

At 7.5 billion dollars

Total federal interest spending yesterday, five days before the election, was $7.5 billion and is expected to reach $8.9 billion by Tuesday, up from $7.1 billion in 2018. Of that, 15% comes from billionaire donations, and the richest 1% of Americans are estimated to have contributed 38% of total campaign spending to candidates.

The emerging financial oligarchy overwhelmingly prefers to support Republican candidates in the midterm elections.

America’s campaign finance system is increasingly reflective of an American society where hundreds of thousands of small funders struggle to compete with the moguls without success. The Democrats, however, have managed to stay in the donation race by constantly urging voters to donate, even if only a little.

Activist billionaires, however, have gained, through these legal entities (supercompanies), mostly conservatives, an easy way to fund legislative and executive candidates. While there are billionaires in both parties, the Republicans have many more. Of the top 25 donors in this election, 18 are Republicans, who spent $200 million more than their Democratic opponents.

big names

While Democrat George Soros is the largest donor with $126 million in his personal super-PAK, the Hungarian investor’s organization has given only $15 million to support Democratic candidates. Republican donors such as Richard Ulayne and Kenneth Griffin sent $135 million to their own superteams, all of which was used to support conservative candidates. The negative publicity of these organizations, aimed at the Democrats, flooded US television stations, raising the chances of the Republicans to control the House of Representatives.