How US midterms have cost a record $12bn as cost of living soars
Candidates, donors and super PACs are spending more than ever on political campaigns.
The US midterm elections are on track to be the most expensive for candidates and political donors in history. According to OpenSecrets, a research group that tracks money in US politics, close to a record $12bn has been spent by candidates and outside political groups on campaigning.
The world’s richest man, Elon Musk alone has given $445 million to the Republicans, according to campaign finance records.
Critics have questioned the huge sums of money being spent to sway voting during an election cycle in which the cost of living and affordability have been the key issues in most campaign agendas.
New York Mayor Zohran Mamdani has accused the nonprofit lobbying group, American Israel Public Affairs Committee (AIPAC), of spending “millions in dark money”, for example, on pro-Israel candidates.