Presidential election 2020: The most expensive race in American history

Presidential election 2020: The most expensive race in American history

Democratic candidate Joe Biden and President Donald Trump’s campaign is expected to cost as much as $ 6.6 billion, according to CRP estimates.

Incumbent US President Donald Trump (right) and Democratic presidential candidate Joe Biden. (Photo: AFP / VNA)

The Center for Political Response (CRP) has just released a report showing that this year’s total spending on the US election will reach nearly $ 14 billion, far exceeding the amount spent in the previous two elections combined. .

According to estimates from the CRP, the candidate’s Democratic election campaign Joe Biden and the President Donald Trump is expected to cost up to about $ 6.6 billion, while the money poured into the race to win seats in Congress will amount to 7.2 billion.

Democrats are the biggest spenders, at $ 6.9 billion, compared with $ 3.8 billion for Republicans and candidates.

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Sheila Krumholz, CEO of CRP, said: “Donors who poured record sums into the midterm elections in 2018 and 2020 appear to be a continuation of that trend, but enhanced. than.”

Meanwhile, Democratic Biden’s presidential candidate is aiming to be the first candidate in history to raise $ 1 billion from sponsors, after his election campaign brought on a record number of 938 million USD as of October 14.

For comparison, the incumbent President Trump has raised $ 596 million.

Director Krumholz said: “10 years ago, one election campaign billions of dollars in value is hard to imagine. “

Meanwhile, OpenSecrets, an offshoot of CRP, said in a press release that the line political donations In the final weeks leading up to the start of the official elections have been fueled by partisan wars, involving Amy Coney Barrett becoming a US Supreme Court judge and “heated races. to the White House and Senate “./.

Phuong Nga