The Federal Election Commission has just reported that presidential and congressional candidates, and a slew of political action committees, have already spent over $3 billion in the 2016 elections with the bulk of the spending still to come.
The FEC said that $3.03 billion has been spent on federal races, and $3.38 billion raised.
That would buy three Brooklyn Bridges in today’s dollars.
From January 1, 2015 to March 31, 2016 presidential candidates raised $735.3 million, and spent $671.1 million. Congressional candidates raised more, $796.9 million, but spent less, $423.6 million. And party committees raised $647.1 million and spent $492.6 million.
But the dominant force was political action committees. They raised $1.944 billion, and spent lots, $1.631 billion.
And of those, it was the independent packs that led the group, raising $697.5 million.
Labor also went big. There were 285 labor PACS that raised $206.1 million. By comparison, 1,736 corporate PACS raised $251.7 million.
Paul Bedard, the Washington Examiner’s “Washington Secrets” columnist, can be contacted at [email protected]
