Super PACs and party committees filed their latest campaign finance reports this week, and with the high-stakes battles for House and Senate control fully underway the money being spent (and raised) is reaching historic levels.
Super PACs have poured more than $555 million into midterm elections so far this cycle, according an analysis from the nonpartisan campaign finance watchdog OpenSecrets.
Why it matters: Election Day is quickly approaching — we just passed the seven-week mark. Several races in the House and Senate remain very tight.
Republicans are hoping to flip one, if not both, of the chambers, and every penny counts on both sides.
Five takeaways from this week's reports:
Congressional leadership committees dole out dollars: The Senate Majority PAC, which is aligned with Senate Majority Leader Charles Schumer (D-N.Y.), has spent $36 million this cycle, while its GOP counterpart Senate Leadership Fund, which has the backing of Senate Minority Leader Mitch McConnell (R-Ky.)has spent $25 million. The House Majority PAC, which supports Democrats, has spent $15 million this cycle, compared to the GOP's Congressional Leadership Fund, which has spent $28 million on 2022.
Hey big spender: The PAC that's spent the most this cycle has been the conservative Club for Growth PAC, which has doled out more than $43 million as of the end of August.
Money talks: The PAC money spent to date on candidates (both for and against) makes it clear where the battle lines have been drawn. When so much money is being poured into a race, it's a safe bet that the strategists think it's competitive.
The top five races by dollar as of the end of August: Senate campaigns in Pennsylvania, Georgia, Arizona, Ohio and Wisconsin.
Not so inspiring: So where are PACs totally checked out? North Dakota and South Dakota Senate races. Each has generated just $1,475 in PAC spending against the Republican candidates, both from the liberal Really American super PAC.
Trump keeps to himself: Former President Trump's Save America leadership PAC has tirelessly fundraised since he left office, often fueling his supporters' animosity with emails that include unfounded claims that the election was stolen from him or that they need to donate so he can push back on President Biden.
Trump has endorsed Republican candidates and traveled the country hosting large-scale political rallies in battleground states, but his PAC has $99 million left in the bank and its most significant spending this cycle (aside from what it's spent on Trump's legal fees) has been $650,000 on the effort to defeat his personal foe, Rep. Liz Cheney (R-Wyo.).
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