Elections, Campaign Funds | featured news

You can do a lot with a billion dollars - but still not change much. This Election Day, it's likely to produce another Republican-led House that's little different from the existing version.

Tom Donohue, president of the U.S. Chamber of Commerce, indicated Monday that reports that the business group would spend $50 million on the 2012 elections are too low.

President Barack Obama's campaign set a goal of raising $60 million in the fourth quarter of the year to benefit the Democratic incumbent's re-election and the Democratic National Committee, a campaign official said on Saturday.

With funds missing or frozen, a campaign treasurer facing charges and an election 14 months away, many go looking for money. A suspected embezzlement scheme that has ensnared hundreds of campaign accounts of Democrats has sent candidates scrambling for new cash as they prepare for an election season that could reshape California's political landscape.

House and Senate candidates have already shattered fundraising records for a midterm election and are on their way to surpassing $2 billion in spending for the first time, according to new campaign finance data.