NEW YORK, October 29. /TASS/. The spending on the current US election race will reach $14 bln, double the corresponding figure in the previous election cycle in 2016, according to a report released on Wednesday by non-profit organization Center for Responsive Politics.
"The total cost of the 2020 election will nearly reach an unprecedented $14 billion, making it the most expensive election in history and twice as expensive as the previous presidential election cycle. That’s according to an estimate from the Center for Responsive Politics. The Center previously estimated the election would see nearly $11 billion in total spending. But an extraordinary influx of political donations in the final months — driven by a Supreme Court battle and closely watched races for the White House and Senate — pushed total spending past that $11 billion figure with weeks yet to go before Election Day," the report said.
According to the organization, "The massive numbers are headlined by unprecedented spending in the presidential contest, which is expected to see $6.6 billion in total spending alone. That’s up from around $2.4 billion in the 2016 race."
Meanwhile, "The pandemic forced candidates to forgo in-person fundraisers with wealthy donors. Campaigns have increasingly relied on virtual fundraising using texts and emails, a strategy that works better when Americans are more engaged in politics. They first had to build lists of supporters to solicit donations from, an area where online ads on Facebook and Google proved to be immensely successful. Political groups have spent over $1 billion this year to advertise on these platforms, according to OpenSecrets’ online ads database."
The United States will hold a general election on November 3. US voters will elect the president and vice-president, all 435 members of the House of Representatives, one third of the Senate, and the governors of 13 states and territories. The incumbent, Donald Trump, will be challenged by the Democratic Party’s candidate Joe Biden. The contenders for the post of US Vice president are Mike Pence and Kamala Harris.