Following historic levels of inflation in 2022, the Federal Election Commission (FEC) announced a major increase to contribution limits for 2023-2024 — the largest in nearly two decades.
Most of the changes impact contributions made by individuals and non-multicandidate PACs to (1) federal candidates, (2) national party committees, and (3) certain specialized accounts established by national party committees.
The changes do not affect limits on contributions made by multicandidate PACs, since those limits are not indexed for inflation.
Individual donors and non-multicandidate PACs may now give $3,300 per candidate per election — a $400 increase from the previous limit of $2,900. Under the new limit, such donors may contribute $3,300 per candidate in a primary, general election, and (if necessary) runoff, for a total of $9,900.
Such donors may now give $41,300 per year to national party committees — up from $36,500. And they may now give $123,900 per year to special national party committee accounts — often established to defray expenses related to nominating conventions, election recounts, and other legal proceedings — up from $109,500.
Additionally, the FEC announced corresponding increases to limits on contributions by certain national party committees. National party committees and their respective senatorial campaign committees may now contribute up to $57,800 combined per campaign to each Senate candidate — up from $35,000.
Finally, federal law requires certain political committees to disclose contributions bundled by lobbyists and registrants once the contributions exceed a certain threshold amount — an amount indexed for inflation. After historic levels of inflation in 2022, the new lobbyist bundling disclosure threshold for 2023 is $21,800 — up from $20,200.
The new limits on contributions to candidates apply retroactively to any 2024 election cycle contribution made since November 9, 2022 (the day after the 2022 general election), and to any such contribution made until November 5, 2024 (the day after the 2024 general election). The new limits on contributions to national party committees and their special accounts apply retroactively to contributions made since January 1, 2023, and to any such contribution made until December 31, 2024.
Bradley’s Governmental Affairs team is actively monitoring changes to FEC regulations and relevant agency guidance. Please contact us if you are interested in learning more about these changes or developing a strategy to maximize your impact on the 2023-2024 election cycle.
The following chart summarizes key contribution limits for 2023-2024:
*Indexed for inflation in odd-numbered years