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Economics

The Impact of Campaign Finance Reform on Election Outcomes

Quick fact

Spending by super PACs and other outside groups in U.S. federal elections grew from about $338 million in 2008 to over $1.6 billion in 2020 – a fivefold increase after Citizens United.

Why this is interesting

You've probably heard that the Citizens United ruling 'flooded elections with money' – but can a single court case actually decide who wins? The surprising answer is that campaign finance reform often backfires, shifting power in ways no one predicted.