Republican primary spending is projected to approach or surpass $1 billion for the first time ever, mainly due to deep-pocketed candidates and increased campaign contribution limits.

Driving the news: Early projections indicate close to or more than $1 billion will be spent on the GOP nomination process, depending on how long it takes to solidify a nominee.
* Candidate spending is expected to reach at least $500 million with super PACs spending about the same or slightly less.

Rising cost of campaigning: Presidential campaign spending has surged, with $6 billion spent on the 2020 race alone – nearly three times the cost of the 2000 race when adjusted for inflation.
* The maximum individual campaign contribution has increased from $2,800 to $3,300 for primaries, allowing candidates to raise more money.

Where the money goes: Ads are the most expensive part of campaigning, with 60% of campaign and super PAC fundraising being directed toward media firms to design and place advertising.
* Staff and campaign consultants also make up a large portion of campaign spending.

Comparing to Democrats: Democrats exceeded $1 billion in total spending during the 2020 primary, while Republicans are now projected to approach or surpass that figure.
* However, Republicans are not likely to outpace Democrats in terms of overall spending, given the large fundraising war chest already prepared by Democratic donors for the 2024 presidential election.

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