Wall Street Democratic fundraisers reassuring banking community about Biden-Harris ticket: Report
FOX Business’ Charlie Gasparino’s sources say the big donors behind the Biden-Harris ticket are reportedly emphasizing the far left portion of the Democratic Party are not leading it.
Spending on the 2020 election is set to obliterate all previous records at nearly $11 billion, according to new campaign finance data released Thursday.
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The Center for Responsive Politics projects the 2020 spending on House, Senate and the presidential race will be at least 50% more than the 2016 race, which topped $7.8 billion when adjusted for inflation.
“The 2018 election smashed fundraising records for midterms, and 2020 is going to absolutely crush anything we’ve ever seen — or imagined — before,” Sheila Krumholz, executive director of the Center for Responsive Politics, said in a statement. “This is already the most expensive presidential election in history and there are still months of election spending to account for. The unanswered question is whether this will be the new normal for future elections.”
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Democrats' spending on the presidential and congressional races has far outpaced Republicans. Even when removing the spending by billionaires Mike Bloomberg and Tom Steyer for their own short-lived White House bids, Democrats made up 54% of total spending compared to Republicans’ 39%.
Even though President Trump had a two-year head start on fundraising over former Vice President Joe Biden, the Democratic nominee has caught up and now surpasses Trump's fundraising, the center found.