|For Immediate Release
March 27, 2003
|PAC ACTIVITY INCREASES FOR 2002 ELECTIONS|
|WASHINGTON - Financial activity by political action committees (PACs)
increased during 2001-2002 when compared to the prior two-year period, according to
figures compiled by the Federal Election Commission. From January 1, 2001, through
December 31, 2002, PACs raised $685.3 million and spent $656.5 million, each up 13% over
1999-2000. Cash on hand as of December 31, 2002, for the 4,594 PACs totaled $184.3
PAC contributions to federal candidates during 2001-2002 totaled $282 million, up 9% from 1999-2000. Most of the money - $266.1 million - was given to candidates seeking election in 2002. The remaining $15.9 million went to candidates running for office in future years, or to debt retirement for candidates in past cycles.
The following table summarizes PAC contributions from 1990 through 2002:
Incumbents continued to receive most of the PAC contributions as they have in previous elections. The following table shows the distribution of contributions according to incumbents, challengers, and open seat races over seven election cycles.
House candidates received $212 million from PACs, up 8% from the previous cycle while Senate candidates received $70 million, an increase of 14%. Republican congressional candidates received $145.4 million, an increase of 7% from the previous cycle, while Democrats received $136.5 million, up 11%.
The following chart provides PAC contributions and percentages by political party over several election cycles (in millions of dollars).
In addition to the $282 million in contributions, PACs made $14 million in independent expenditures for and against candidates. Of this, $12.7 million was spent on behalf of various candidates and $1.3 million was spent against them.
The following pages provide data on PAC financial activity for 2001-2002 and comparable summary statistics for several previous election cycles. Other tables show the distribution of PACs by total amount spent and total contributed to candidates. Rankings of the "Top 50" PACs in various categories, such as money raised and spent are also included.
This release and accompanying statistics can be found on FECs webpage at www.fec.gov under News Releases or Campaign Finance Reports and Data.
Tables are in EXCEL format and may be viewed using Mcrosoft Excel from Microsoft.