The Year the Small Donor 'Got Left Behind'

A leading money-tracking group revises its estimate downward, but campaign spending is still likely to set a record.
Photograph by Susana Gonzalez/Bloomberg

Elections are getting more expensive–but don't think that more people are giving money to political groups. Instead, a smaller universe of donors is giving more money, thanks to a series of court rulings in 2010 that led to an explosion of outside groups, like super-PACs, which can accept donations in unlimited amounts to run ads independently of the candidates they support.

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