$2B House, Senate Races Smash Fundraising Record
Spending set to top $4M for each congressional seat
By Rob Quinn,  Newser Staff
Posted Oct 26, 2010 3:46 AM CDT
Sen. Tom Harkin, D-Iowa, speaks during his annual fundraising steak fry dinner in Iowa last month.   (AP Photo/Charlie Neibergall)

(Newser) – Fundraising records have been shattered as House and Senate candidates head toward the finish line, a Washington Post analysis of campaign finance data finds. House and Senate candidates have raised over $1.5 billion and total spending is on course to top $2 billion as hopefuls dig deep into their war chests and, in many races, their own pockets. The total works out to more than $4 million for every congressional seat up for grabs.

Outside interest groups, most of them backing GOP candidates, have poured $400 million into races, but the most of the money has been raised and spent by the candidates themselves. In a reverse from 2008, Republican House candidates have raised more funds than their Democratic rivals, and much of the cash remains to be spent in the final week of campaigning.