Republican primary spending projected to approach or surpass $1 billion

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.

View original article on NPR

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