Malcolm Rivera
Political campaigns for governor in the United States are financed through a combination of private and public contributions, with nearly $14 billion spent on federal election campaigns in 2020. The sources of this funding are diverse, ranging from individual donors to political action committees (PACs) and special interest groups. State-level campaigns for governor have also seen record-breaking sums, with over $2 billion in contributions in 2023. This money is spent on various aspects of the campaign, including advertising, staff salaries, travel, and other operational expenses. The impact of campaign spending is a subject of debate, with critics arguing that it gives undue influence to wealthy donors and special interests, while others claim that it does not always guarantee electoral victory.
| Characteristics | Values |
|---|---|
| Total money spent on governor campaigns in 2023 | $2.2 billion |
| Amount raised by the Democratic Governors Association by 17th October 2023 | $108 million |
| Amount raised by the Republican State Leadership Committee by September 2023 | $33 million |
| Amount raised by the Democratic Legislative Campaign Committee by October 2023 | $35 million |
| Amount raised by the Republican Governors Association from 2017 to September 2023 | $156 million |
| Total money spent on 2024 federal elections by outside groups, largely super PACs | $2.6 billion |
| Total money spent on 2024 federal elections (projected) | $5 billion |
| Total money spent on presidential campaigns by 31st December 2023 | $374.9 million |
| Total money spent on congressional campaigns by 31st December 2023 | $1.3 billion |
| Total money raised by political parties by 31st December 2023 | $684.5 million |
| Total money spent by political parties by 31st December 2023 | $595 million |
| Total money raised by Political Action Committees (PACs) by 31st December 2023 | $3.7 billion |
| Total money spent by Political Action Committees (PACs) by 31st December 2023 | $3.1 billion |
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What You'll Learn
Campaign donations
The sources of these campaign donations vary and can include individuals, political groups, companies, charities, and Political Action Committees (PACs). While most states impose limits on the amount an individual or committee may donate to a campaign, there are typically no restrictions on how much political groups, companies, or charities can spend. This dynamic has led to concerns about the influence of large donors and special interest groups in political campaigns.
In the lead-up to elections, these donations are allocated to various expenses, including advertising, staff salaries, travel, and campaign materials. A significant portion of campaign funds may also be directed towards attacking opponents through negative advertising. Additionally, donations may be used to bolster the candidate's public image and visibility through social media campaigns and other promotional avenues.
The impact of campaign donations on electoral success is a subject of debate. While some argue that electoral victory is not solely dependent on financial resources, others contend that money plays a pivotal role in influencing political outcomes. This is evidenced by the substantial sums of money flowing into political campaigns, with organizations and individuals investing heavily in their preferred candidates and causes.
To promote transparency and address concerns about the influence of money in politics, various laws and regulations have been enacted at the federal level, enforced by the Federal Election Commission (FEC). These laws aim to regulate campaign donations, spending, and public funding. Additionally, non-profit, non-governmental organizations, such as the Center for Responsive Politics, independently track how money is raised and spent in political campaigns, providing additional oversight and accountability.
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Spending limits
At the federal level, the Federal Election Commission (FEC) enforces the Federal Election Campaign Act of 1971 (FECA), which sets contribution limits for individuals and groups donating to candidates running for federal office. The FEC also oversees public funding in presidential elections. The FECA requires candidates for president, Senate, and the House of Representatives to disclose the names of individuals and organisations contributing to their campaigns, along with the amounts donated.
However, critics argue that Supreme Court decisions, such as Citizens United v. FEC (2010), have allowed the very wealthy to spend unlimited amounts of money on campaigns through Political Action Committees (PACs) and "Super PACs". This has led to concerns about the influence of large donors and the impact of "dark money", where the donor's identity is masked.
In response to these concerns, some states have implemented their own spending limits and transparency requirements. For example, Connecticut passed a Clean Elections law in 2005, and similar measures have been enacted in Portland, Oregon, and Albuquerque, New Mexico. These laws aim to reduce the influence of private contributions and increase transparency in campaign financing.
Additionally, public opinion polls indicate widespread support for limiting campaign spending. A 2018 Pew Research Center report found that 77% of Americans believe there should be limits on the amount of money individuals and organisations can spend on political campaigns. Similarly, a Franklin & Marshall poll from August 2023 showed that 93% of Pennsylvania voters agreed that the influence of money in politics poses a threat to democracy.
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Political advertising
In the 2022 election cycle, 98,000 online advertisers spent $2.1 billion on 14 million Google and Facebook political ads. This shift towards digital channels, such as Facebook, Google, and connected TV (CTV), has been a growing trend in political advertising, with campaigns determined to reach voters across all media. In 2024, eight out of ten US households owned at least one CTV device, and political ad buys on CTV were forecast to amount to more than $1.5 billion, roughly 45% of the campaigns' total digital ad expenditure.
Despite the growing focus on digital channels, broadcast television still receives the highest amount of investment in political advertising. In 2024, spending on broadcast TV was projected at around $5.1 billion, with the total political ad market projected to reach a record $16 billion, or $17.1 billion including direct mail.
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Donor identity
In the United States, federal campaign finance laws require federal candidates and committees to disclose their contributors. However, critics argue that following the Citizens United v. FEC Supreme Court decision in 2010, the wealthy are now allowed to spend unlimited amounts on campaigns, particularly through Super PACs, and to prevent voters from knowing who is trying to influence them by contributing "dark money" that masks the donor's identity. This has led to concerns about the influence of large donors in political campaigns, with 74% of Americans surveyed in 2018 believing that people who give a lot of money to elected officials should not have more political influence than other people.
To address these concerns, organizations like OpenSecrets, a non-profit, non-partisan research group, track money in U.S. politics and provide data and analysis to strengthen democracy. They offer a Donor Lookup tool that allows users to search for state or federal candidates and see the donors and industries that support them. Additionally, the Federal Election Commission (FEC) maintains a database of individuals who have made contributions to federally registered political committees, with information such as the contributor's name, employer, occupation, and contribution amount.
Despite these efforts, some wealthy individuals and special interests still try to conceal their political contributions through mechanisms like "straw donations." In a straw donation scheme, a donor directs funds through another person or entity, often a shell company, which then contributes those funds to a political committee, hiding the true source of the donation. For example, in 2025, the Campaign Legal Center (CLC) filed a complaint with the FEC against an entity called "Building Our Future Today, LLC" (BOFT), which appeared to be a shell company used to funnel contributions to two super PACs.
To further complicate matters, laws and regulations regarding campaign donations and spending vary across states. For instance, Pennsylvania has been criticized for its lax campaign finance laws that create the perception of a government serving the wealthy few. In contrast, states like Arizona, Maine, Connecticut, Portland, Oregon, and Albuquerque, New Mexico, have passed "Clean Elections" laws to reduce the influence of private contributions.
Overall, the issue of donor identity in political campaigns is complex and continues to evolve, with ongoing efforts by watchdog groups and regulatory bodies to increase transparency and reduce the influence of "dark money."
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Fundraising expenses
Political campaigns for gubernatorial office require significant financial resources to be successful. One of the major expenses incurred by these campaigns is fundraising costs, which can account for a substantial portion of the overall campaign budget.
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Frequently asked questions
Governor political campaigns can attract a lot of money, with races for governor, legislative seats, and other state-level offices bringing in over $2 billion in campaign contributions in 2023. In 2020, nearly $14 billion was spent on federal election campaigns in the US, making it the most expensive campaign in US history.
Governor political campaigns spend money on funding ads attacking their opponents, and on grassroots organizations. They also spend money on communication costs, and on legal and accounting expenses.
Donors to governor political campaigns include wealthy individuals, political groups, companies, charities, and Political Action Committees (PACs).
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