US midterms campaign shattering spending records to be most expensive ever
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The 2026 US midterms campaign is projected to reach nearly $12bn (£9bn) in total costs, making it the most expensive on record according to Open Secrets. Federal Election Commission filings through mid-October show over $9.5bn already spent, with Super Political Action Committees accounting for about $5.5bn. Billionaire businessman Elon Musk is the top individual donor, spending almost half a billion dollars supporting Republican candidates, particularly in Texas.
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