Dark Money Grows

Money that is spent anonymously in elections has reached$50 million this election cycle, the most ever. Dark money expenditures this Congressional election cycle is set to eclipse expenditures of the last Presidential election cycle, when more money is typically spent. Compared to the last midterm election cycle, dark money has grown more than seven fold.

NY-21 sees a tight fundraising capabilities race between Elise Stefanik (R) and Aaron Woolf (D). Despite Woolf hoarding his war chest compared to his opponent, Stefanik and Woolf are marginally tied.

Woolf has gained considerable traction while spending a fraction of what he has garnered, 40% of which is his own personal contribution. Stefanik is firing on all cylinders while saving little of what she has earned, indicating that this could be an uphill battle for her. About a quarter of her fundraising comes from “other” sources, whereas Woolf has <1% in the same category.

Despite the growth of dark money, retirees still play an important fundraising landmark for both candidates competing in the NY-21 race. Stefanik and Woolf have both risen over $100,000 ($60,000 to Woolf and $46,000 to Stefanik) from this politically decisive bloc.

Outside money has seen a rise in one of the most closely watched races in the country, however. Conservative-leaning groups have spent over $1 million dollars and liberal-leaning groups have spent roughly $23,000. The conservative-leaning groups are both SuperPACs as opposed to the liberal-leaning PACs.

The outside spending in this race demonstrates the importance of competition in U.S. politics. NY-21 is one of the tightest races this year, so while it most likely won’t tip the scales of the House majority, the competitive races such as this one shine light on the hot button issues this country is facing.