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September 24, 2020
This week in money-in-politics
 
Outside spending in 2020 election surpasses $1 billion, on track to break records


Outside spending in federal races has already surpassed $1 billion with over a month to go before Election Day, putting the 2020 election on track to see far more outside spending than previous election cycles.

That’s according to OpenSecrets’ outside spending tracker, which follows attempts by super PACs, political parties and “dark money” nonprofits, among other outside groups, to influence elections.

Democratic enthusiasm to unseat President Donald Trump and Republican senators — and major GOP donors’ efforts to counter Democrats’ record-breaking fundraising totals — have driven outside spending totals to new highs.

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OpenSecrets' new online ads portal provides a comprehensive look into the massive amounts of money being poured into political ads on Facebook and Google.

‘Dark money’ groups gear up for Supreme Court battle as 2020 election nears


“Dark money” groups are projected to spend tens of millions of dollars on the battle over Justice Ruth Bader Ginsburg’s seat on the Supreme Court, raising the stakes — and likely the cost — of an election cycle that is already seeing record-breaking cash flow. Even before President Donald Trump’s announcement that he will appoint a woman to fill the open Supreme Court seat, multiple outside groups weighed in on the projected nomination in the days following Justice Ginsburg’s death.
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Top presidential super PACs boosted by ‘dark money’ donations
 

“Dark money” groups have spent more and become more opaque this election cycle, pushing money to be spent on the election through closely tied super PACs. These nonprofits, which do not disclose their donors, made some of the largest contributions to the top pro-Donald Trump super PAC America First Action and the top pro-Joe Biden hybrid PAC Priorities USA Action in August. Although these dark money groups keep their donors secret, a few known individuals also donated generously to these top PACs.
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As Senate races ramp up, so does outside spending by top super PACs


Two super PAC spending titans, the Democratic Senate Majority PAC and GOP Senate Leadership Fund, ended August with $85 million and $126 million cash on hand, respectively, according to Sunday’s Federal Election Commission filings. Those numbers are key because as both parties enter the home stretch of election season, a Democratic retaking of the Senate in November is seen by many as a solid possibility. FiveThirtyEight deemed Democrats “slight favorites” to take back the Senate.
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Biden outraised Trump 3-1 in August, erasing Trump’s cash advantage
 

In a matter of months, Democratic nominee Joe Biden erased President Donald Trump’s once-massive financial advantage that he’d been building up since the early days of his presidency. Some Democratic strategists called Trump’s mountain of campaign cash “insurmountable.”

But record-smashing fundraising by the Biden campaign — and free spending from the Trump camp — helped Democrats catch up and actually surpass the Republican reelection effort.


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OpenSecrets in the News

See our media citations from outlets around the nation this week:  

The Associated Press
CNBC
Marketplace
The Atlantic
The Post and Courier
South Florida Sun-Sentinel
Virginia Mercury
The Lexington Herald-Leader
Tehachapi News
NPR Binghamton
Middle East Eye
BBC Mundo

 

See more here

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