2010 midterms will be most expensive in history with more than $1 billion in play

More than $1 billion has already been spent on the 2010 battle for
Congress, which is expected to be the most expensive midterm election
in history.

Interest groups riled up by the Obama
administration’s far-reaching legislative agenda of healthcare and Wall
Street reform are pledging massive expenditures. Democratic strategists
have been circulating a four-page memo that
chronicles how Republican-leaning independent groups are set to spent
$301.5 million this cycle.

{mosads}Rich candidates are also fueling the political spending spree.
Former
Hewlett-Packard CEO Carly Fiorina (R) has already funneled $5.5 million
from her personal fortune into her Senate campaign and in
Florida billionaire Jeff Greene (D) is expected to do the same in his
race for the Democratic Senate nomination.

“We fully expect this will be the most expensive midterm election ever
in U.S. history,” said Dave Levinthal, a spokesman for the Center for
Responsive Politics (CRP). “Not only do we expect it to exceed the high
water mark set in 2006, but this could very well obliterate that number
when all is said and done.”

The 2006 midterms, which gave Democrats back control of the House
and Senate, cost more than $2.8 billion, according to CRP estimates.

More
than $1 billion has been spent on campaigning so far and the group
estimates the 2010 elections will cost some $3.7 billion. Their
estimate includes spending by Senate and House candidates, political
parties, so-called 527 groups and independent expenditures on
advertising and get-out-the-vote efforts by political action
committees. And that number could climb.

“We wouldn’t be surprised at all if this is a $4 billion-plus
election, particularly because of the Citizens United decision in
January,” Levinthal said, citing the Supreme Court ruling that reversed
the ban on independent expenditures by corporations and unions.

“Nobody has any good idea at this point come September, October,
how much money companies and trade associations and unions are going to
be pouring into television advertisements or radio advertisements now
that they are allowed to spend unlimited sums directly from their
treasury to advocate for or against any particular candidate,” he said.

The House recently has passed the Disclose Act, which could again
restrict corporate and union spending, but it’s not clear if it will
become law before the November vote.

This increase in political
spending is more notable, Levinthal added, because it comes at a time
when the country is reeling from a bad economy and rampant
unemployment. “Comparatively, the 2006 election cycle was a time of
economic milk and honey,” he said, noting there’s been a 30 percent
increase in spending in the last four years. “There’s really no
recession in politics.”

Much of the money is being driven by Congress’s ambitious agenda.
In the last 18 months, Speaker Nancy Pelosi (Calif.) and Senate
Majority Leader Harry Reid (Nev.) have tackled Wall Street reform,
healthcare reform, energy policy and even campaign finance.

“Congress has been very ambitious,” Levinthal said. “The fact of
the matter is there are a lot of folks out there who want to put
dollars and sense behind their influence efforts and are doing just
that.”

The largest expenditure from a Republican-leaning group is expected to be made by the Chamber of Commerce.

The influential business group will spend some $75 million this
cycle, according to the CRP. A spokesman for the Chamber would not
confirm that figure, but noted that this Congress has addressed issues
important to its membership.

“We have had some of the most important business issues come
through this Congress and the Chamber will let voters know where their
lawmakers stood on these issues,” said J.P. Fielder, a spokesman for
the Chamber.

Political spending increases aren’t confined to one industry or one
side of the political spectrum. “It’s across the board, from the very
ideological special interest groups to the big industries in finance or
energy or healthcare,” said Levinthal. “You’ve got to keep up with the
Joneses in politics. And if one side is just bringing to bear every
resource that they can, the other side, if they don’t do the same, does
so at its own peril.”

Unions and progressive groups are also going to spend big this
cycle. The American Federation of State, County and Municipal Employees
and the AFL-CIO plan to spend close to $100 million on the 2010
election, with most of those funds going to protect incumbents. EMILY’s
List, which support pro-abortion-rights female candidates, will spend close to
$43 million. In comparison, the Susan B. Anthony List (SBA), an
anti-abortion-rights group that supports primarily female candidates,
will spent close to $10 million.