A record-setting year for campaign spending

By Jonathan D. Salant, Associated Press, 11/06/00

WASHINGTON -- A record $3 billion is to be spent this year on elections that will determine who controls the White House, Senate and House of Representatives.

The figure comes a quarter-century after the Watergate scandal, which led to an overhaul of the way campaigns are financed.

More than $2 billion has been raised by the candidates and the political parties in the 2000 election. The rest of the money is coming from outside interest groups, airing advertisements in support of favored candidates. Many of them formed political committees incorporated under Section 527 of the Internal Revenue Service code, and have been forced to disclose their contributors and for the first time. Between July 1 and Oct. 31, they spent an estimated $132.6 million.

Here are some of the campaign finance records that have been broken this year:

  • Most money raised by a presidential candidate: George W. Bush, $102.7 million through Oct. 18. (Old record: Bob Dole, $50.7 million, including federal matching funds, through Oct. 16, 1996) Figures include money raised for general election legal and accounting costs.
  • Most money spent by a presidential candidate for the primary: Bush, $91.1 million through Aug. 31. (Old record: Dole, $42.2 million, 1996)
  • Most federal matching funds for a presidential candidate: Al Gore, $15.5 million in 2000. (Old record: Dole, $13.5 million, 1996)
  • Most unregulated soft money raised by a political party, Republican National Committee, $136.3 million through Oct. 18. (Old record: RNC, $113.1 million, 1995-96)
  • Most money raised by congressional candidates, $800.7 million through Oct. 18. (Old record: $781.3 million in 1997-98)
  • Most money raised for a Senate race: Jon Corzine, New Jersey, $55.7 million through Oct. 18. (Old record: Michael Huffington, California, $30 million, 1994)
  • Most money spent in a Senate race: New Jersey contest between Corzine and Rep. Bob Franks, $57.8 million. (Old record: Huffington and Dianne Feinstein for California Senate seat, $44.4 million, 1994)
  • Most money spent in a House race: Rep. Jim Rogan and California state Sen. Adam Schiff, $9.1 million through Oct. 18. (Old record: Rep. Newt Gingrich of Georgia and Michael Coles, $8.9 million, 1996)
  • Biggest one-night fund-raiser: Democratic National Committee, $26.5 million in May. (Old record: $21.5 million, Republican National Committee in April. Prior to that previous record was the RNC in April 1999, $14 million)
  • Biggest convention fund-raiser: Republican National Committee, $10.1 million in August. (Old record: RNC, $6.5 million, August 1996)

Sources: Federal Election Commission, party officials, Congressional Quarterly.