Big money has never been as big nor as bold as it has been in the 2024 presidential election and the failure to rein it in could further solidify the already overwhelming influence the superwealthy wield over our political system.
This election cycle is expected to be the most expensive in history, with nearly $16 billion spent on the presidential and congressional races. Outside spending alone is projected to top $5 billion — far more than the $1.6 billion outside groups spent in 2020.
The problem of megadonors playing an outsized role in elections was compounded earlier this year when the Federal Election Commission lifted the longtime ban against candidates coordinating with outside groups such as super PACs, which can raise and spend unlimited money.
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