OpenSecrets projects that more than $9.3 billion will be spent on 2022 midterm elections, surpassing the $7.1 billion in total election spending on 2018 midterms.
OpenSecrets Executive Director Sheila Krumholz
“Spending is surging across the board this midterm cycle, fueling a polarization vortex that shows no signs of slowing.”
Candidates, parties, committees, PACs and outside groups have already reported spending more than $4.8 billion on 2022 midterm elections.
Total spending will likely jump in mid-October, as most federal candidates are not required to report third-quarter spending to the FEC until Oct. 15, the first quarterly disclosure deadline since mid-year disclosures were filed.
OpenSecrets is tracking increases in spending across the board compared to the same point in the 2018 cycle, including House candidate spending up about 30% and outside spending up about 40%. Senate candidate spending has more than doubled since 2018.
Republican party committees are outspending their Democratic counterparts with the Republican National Committee spending $261 million so far this election cycle compared to the Democratic National Committee’s $180 million.
But Democratic candidates, committees and the outside groups that support them have bigger war chests heading into the general elections, with $1.3 billion combined on hand compared to $1.1 billion in the coffers of Republican candidates, committees and supporting outside groups.
Top outside spending groups include those aligned with Republican and Democratic congressional leadership – Senate Leadership Fund, Congressional Leadership Fund and the Senate Majority PAC.
OpenSecrets’ projections will be updated and campaign finance trends will be identified as new data from the Federal Election Commission comes in.