Running for president in the US can cost between $50 million and $100 million for the primaries and an additional $75 million for the general election. Fundraising is crucial, with the candidate who raises the most money before the primary having a better chance of being chosen. Candidates can receive matching campaign funds from the government if they agree to limit spending. However, some candidates choose to raise all their own money, like George W. Bush did in 2000. The cost of running for president without federal contributions could exceed $500 million. General elections are publicly funded through a checkbox on federal tax returns.
Campaigning for president of the United States can be a very expensive proposition. Running a campaign to win the presidential primary can range in cost from $50 million US dollars (USD) to over $100 million dollars. By itself, this cost is already enormous, but there is even more that needs to be spent to run for president. Once the primaries are over and candidates begin their campaigns to win the general election, another $75 million is typically spent.
Presidential hopefuls actually start fundraising about a year before the primary election. Fundraising is considered a very important part of getting the notice you need to be successful as a presidential candidate. In many cases, the candidate who raises the most money before the primary election has the best chance of being chosen to run by his or her party. However, candidates don’t need to raise all of their money to run in the primary election. If a candidate agrees to limit his campaign spending to a certain amount and to distribute it geographically, he can receive matching campaign funds from the federal government.
In some elections, candidates have decided to raise all their money to run for president. When a candidate decides to forgo federal matching funds and spend only his own money, he is not required to limit spending or distribute funds geographically. In fact, President George W. Bush chose to raise his own money in the 2000 election and secured about $100 million dollars. This amount was actually double the amount candidates would have been limited to had they opted for federal funds matching in that election.
After the selection of presidential candidates, the publicly funded general election campaign begins. The cost of running for president in the general election can amount to at least $70 million dollars, although the amount of money required can vary. It is possible that in the future, all presidential candidates will run without receiving federal contributions. According to campaign finance experts, this change could push the cost to more than $500 million.
Many people call the presidency the most expensive political office. It has this reputation despite the fact that general elections are publicly funded. People wondering where public funds are coming from should check a U.S. federal tax return. Near the top, there’s a checkbox designed to indicate whether or not the filer wants to contribute a small amount of money to the general election.
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