$2 billion price tag for presidential election
WASHINGTON (AP) – Campaign finance filings with the government now show that the cost of the 2012 U.S. presidential race has surpassed $2 billion, a new record.
The new tallies released Thursday, which include nearly $86 million in fundraising by Republican presidential nominee Mitt Romney in the election’s final weeks, boosted the total campaign haul over the $2 billion mark.
The campaign’s record-breaking expenditures on media ads were fueled by eye-popping amounts donated to “super” political action committees, including at least $95 million supporting Romney and other Republicans that came from a billionaire Las Vegas casino magnate.
Casino owner Sheldon Adelson and his wife gave $23 million to a super PAC headed by GOP strategist Karl Rove and $10 million to a pro-Romney political committee in recent weeks.