Donald Trump

Money Hasn't Made a Difference in Election Yet: Stanford Law Professor

The 2016 presidential race is shaping up to be the most expensive in history – nearly a billion dollars spent so far, according to year-end campaign finance reports released Sunday. Nearly half of that is from super PACs, with varied results.

It is partly because of the millions pouring into Political Action Committees. But political experts say big money is not likely to sway Iowa voters tonight.

Polls show Bernie Sanders, who has sworn off super PACs, is running neck and neck with Hillary Clinton. Pro-Hillary PACs raised more than $27 million from last July to December.

Donald Trump has risen to the top of the Republican field mostly using his own money. The new report shows more than $400,000 went just to hats with the slogan “Make American Great Again” on them.

However, a group backing Jeb Bush has raised more than $100 million and seen little payoff, according to Stanford Law professor Nate Persily.

“I think it shows money hasn’t really made much of a difference yet. In particular, super PAC money hasn’t made much of a difference,” said Persily, who served on a presidential commission studying long lines at the polls during the 2012 election.

The political expert says this election is unlikely any other.

“The impact of Donald Trump on this race cannot be overstated. I think that he has changed the nature of the game,” Persily said.

But does money translate to votes? Persily says candidates need about $10-20 million to make it to this point in the race, “but after that it’s not as if every dollar buys you an additional vote.”

Though money may not talk in Iowa, Persily says campaign finance reform is still a must.

“I think super PACs are here to stay,” he said. “I think certain individuals think that is the best way to make an influence on the political process – and they have untold millions to spend on politics.”

He estimates a total of $10-15 billion will be spent on the 2016 presidential election, but the big money will not start rolling out until March, when the national campaigning begins.

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