How US midterms have cost a record $12bn as cost of living soars

What the report says

The US midterm elections are on track to become the most expensive in history, with spending by candidates and outside political groups approaching a record $12bn, according to OpenSecrets, a research group that tracks money in US politics. Al Jazeera reports that the surge in campaign finance has come during an election cycle dominated by voter concerns over rising prices, affordability and the cost of living.

The article says Democrats are expected to have spent more than $2.2bn on direct campaign activity, compared with $1.4bn for Republicans. It also notes that outside spending by corporations, unions and other associations has grown sharply since a 2010 US Supreme Court decision that loosened restrictions on election-related spending. Much of that money now flows through super PACs, which can raise unlimited contributions as long as they do not coordinate directly with candidates.

According to the report, spending is especially heavy in close races, including Georgia, Texas and Michigan. In Michigan’s Senate contest, Al Jazeera cites estimated total spending of about $333m, with large sums coming from outside groups supporting both major candidates. The article also highlights the role of dark money, saying such spending could exceed a record $1.5bn this cycle, raising transparency concerns.

The piece further points to major donors and advocacy networks, including Elon Musk’s support for Republican-aligned efforts and the influence of groups such as AIPAC, which has drawn criticism over its spending patterns. More broadly, the report argues that the scale of election funding underscores longstanding debate over whether big-money politics gives wealthy donors and interest groups too much influence.