Georgia Senate runoff ad spending soars to nearly half a billion dollars
How will markets react if Democrats win both Georgia Senate seats?
Quill Intelligence LLC chief strategist and CEO Danielle Dimartino Booth and Agora Financial market strategist Alan Knuckman provide insight into today’s markets and potential consequences of Tuesday’s Georgia Senate elections.
The 2020 elections witnessed nine of the 10 most expensive Senate showdowns in the nation's history.
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The North Carolina contest – with a total tab of nearly $300 million – topped the list, with the Senate race in neighboring South Carolina – at more than $275 million – not far behind.
TRUMP AND BIDEN HOLD DUELING CAMPAIGN RALLIES ON THE EVE OF GEORGIA'S TWIN SENATE RUNOFF ELECTIONS
In the two months since the general election, there’s been no let-up.
In Georgia’s twin Senate runoff elections, where the Republican Senate majority is at stake, the campaigns of the four candidates, the national political parties and outside groups such as super PACs shelled out roughly half a billion dollars to run ads ahead of Tuesday’s contests.
Veteran Georgia-based Republican consultant Chip Lake told FOX Business that the astronomical ad spending’s “unlike anything I’ve ever seen because it’s so sustained. Every week since Thanksgiving has been what the last week before a general election normally is.”
CLICK HERE FOR THE LATEST FOX NEWS REPORTING ON THE GEORGIA RUNOFFS
Democratic challengers Jon Ossoff and Raphael Warnock outraised GOP Sens. Kelly Loeffler and David Perdue and outspent the two incumbents by roughly $65 million to run ads. But pro-Republican outside groups dramatically outspent their Democratic counterparts by approximately $115 million to run ads, according to figures from AdImpact, a leading national ad tracking firm.
AdImpact vice president John Link told FOX Business that the surge both in the general election and in the Georgia runoffs in ad spending means this will be “an election cycle that will be read about in history books."