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'04 ELECTIONS EXPECTED TO COST
NEARLY $4 BILLION
Presidential Race to Top $1.2 Billion
WASHINGTON, D.C. – The 2004 presidential and congressional elections will cost a record $3.9 billion, according to projections based on a study of campaign finance figures by the nonpartisan Center for Responsive Politics. The estimate represents a 30 percent increase over the $3 billion spent on federal elections four years ago.
The presidential race alone, fueled by massive spending by President Bush, Sen. John Kerry, the political parties and a host of advocacy groups spending millions on ads and voter mobilization, will cost an unprecedented $1.2 billion or more, according to the Center's estimates.
The spending increases are due in significant part to the sharp rise in limited “hard” money contributions to federal candidates and party committees. The 2004 campaign is the first to take place under the new campaign finance law known as the Bipartisan Campaign Reform Act. The law raised contribution limits for individuals and banned unlimited “soft” money contributions to the national political parties.
<link>
http://www.opensecrets.org/pressreleases/2004/04spending.asp