The upcoming United States midterm elections have broken multiple records when it comes to spending, according to reports published by nonpartisan agencies on Thursday.
The federal and state spending on 2022 midterms scheduled for next week is expected to surpass the cost of $16.7 billion, per nonprofit organization OpenSecrets, making them the most expensive midterm elections in the country's history.
The Democrats currently control both chambers of Congress. However, the GOP is favored to take the majority in the House of Representatives following the elections.
A separate report from Americans For Tax Fairness showed billionaires spent a record $880 million on the November elections, with George Soros leading the table with a $128 million donation. However, the Republicans are receiving overall more donations from billionaires than the Democrats (60%-40%), the organization added.
