US billionaires’ political spending grew 37-fold in 10 years

US billionaires’ political spending grew 37-fold in 10 years

US billionaires’ political contribution grew about 37-fold in the last election as compared to 10 years ago, Americans for Tax Fairness and The Institute for Policy Studies said.

During the 2018 election, billionaires gave $611 million, up from $17 million in 2008, according to the report from Americans for Tax Fairness and The Institute for Policy Studies, two self-described “progressive” research organizations.

From 1990 through this May, just 20 people made $1.3 billion worth of political donations, nearly 62% of all contributions from billionaires in that period, the study shows.

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