In the 2024 cycle, $15 billion was spent by candidates on federal races alone (opensecrets.org). That doesn’t include state and local races. Over $5 billion was spent on the presidential race. House and senate candidates raised another $10 billion, and PACs raised an additional $16B (fec.gov). Ad spending across all races topped $10B, including radio, TV, and billboards (npr.org).

Right now, the orthodoxy for both parties is to raise as much money as possible. If one side pulls ahead financially, the other risks losing. It’s a political arms race.

Why does that matter?

First, it’s excessive. Campaigns need a baseline budget, but after a point—like the 100th time you see the same presidential ad—it becomes wasted resources. Meanwhile, voters get flooded with “urgent” donation requests over call, text, and email.

Second, it limits who can run. You shouldn’t need to be a millionaire—or know several—to run for office. Even the filing fee for Congress can run into the thousands. That alone blocks out many working-class candidates.

Lastly, it changes who politicians answer to. A winning House campaign costs an average of $2.8 million (opensecrets.org). Raising that cash by calling a handful of wealthy donors is easier than rallying thousands of small-dollar supporters. But those big donors expect access and influence.

Jacob knows we need campaign spending limits that level the field, reduce donor pressure, and make room for more voices in our democracy.