Politics
Charted: Organization Megadonors to the 2024 U.S. Election
See this visualization first on the Voronoi app.
Charted: Organization Megadonors to the 2024 Election
This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.
As the 2024 election approaches, organizations are pouring millions of dollars in to support their party of choice, or in some cases, bipartisan groups that bolster their industry.
Using data from the Federal Election Commission for the period January 1, 2023 to August 20, 2024, The Washington Post compiled the 50 top organization donors and where they spent their money. This chart maps the top 10.
Megadonors Supporting Bipartisan Groups
Crypto companies Coinbase and Ripple gave the majority of their donations to Fairshake, a super political action committee (PAC) that supports campaigns of crypto-friendly congressional candidates. Andreessen Horowitz, a venture capital firm, also supported Fairshake.
Contributions from these three megadonors totaled $180.1 million.
Megadonors Supporting Partisan Groups
The majority of the donations went to partisan groups.
Donor | Amount (millions) | Group | Party |
---|---|---|---|
Coinbase | $91.1 | Fairshake | Bipartisan |
Coinbase | $1.5 | Defend American Jobs | Republican |
Coinbase | $1.5 | Protect Progress | Democrat |
Coinbase | $2.1 | Others | |
Empower Parents PAC | $82.5 | Never Back Down Inc. | Republican |
Fund for Policy Reform | $60.0 | Democracy PAC | Democrat |
Future Forward USA Action | $55.9 | Future Forward PAC (FF PAC) | Democrat |
Ripple Labs | $45.0 | Fairshake | Bipartisan |
Ripple Labs | $1.5 | Defend American Jobs | Republican |
Ripple Labs | $1.5 | Protect Progress | Democrat |
Ripple Labs | $1.0 | Others | |
AH Capital Management | $44.0 | Fairshake | Bipartisan |
AH Capital Management | $1.5 | Protect Progress | Democrat |
AH Capital Management | $1.5 | Others | |
AH Capital Management | $1.5 | Defend American Jobs | Republican |
Koch Industries | $40.0 | Americans for Prosperity Action | Republican |
Koch Industries | $1.8 | Congressional Leadership Fund | Republican |
Koch Industries | $1.5 | Senate Leadership Fund | Republican |
Majority Forward | $15.8 | SMP | Democrat |
Majority Forward | $12.5 | Last Best Place PAC | Democrat |
Majority Forward | $4.1 | Duty and Country | Democrat |
League of Conservation Voters | $27.3 | LCV Victory Fund | Democrat |
League of Conservation Voters | $0.2 | Others | |
United Brotherhood of Carpenters and Joiners | $25.4 | Working for Working Americans | Democrat |
United Brotherhood of Carpenters and Joiners | $1.0 | Strategic Victory Fund | Democrat |
The largest contributors to Republican organizations include the Empower Parents PAC and Koch Industries. Empower Parents PAC pledged $82.5 million pledge to Never Back Down Inc., a super PAC in support of Ron DeSantis. Koch pledged $43.3 million combined to Americans for Prosperity Action (a PAC committed to broadening economic opportunity), Congressional Leadership Fund, and Senate Leadership Fund.
Conversely, the remaining five of the top 10 megadonors supported Democratic groups. The most significant recipients were Democracy PAC, which received $60.0 million from Fund for Policy Reform, and Future Forward PAC, which received $55.9 million from Future Forward USA Action. Democracy PAC’s main mission is to support pro-democracy candidates. Future Forward is aiming to rebuild America’s middle class.
More on American Politics
If you found this interesting, check out this visualization that looks at the U.S.’s most trusted sources for government information.
This article was published as a part of Visual Capitalist's Creator Program, which features data-driven visuals from some of our favorite Creators around the world.
Politics
Breaking Down the U.S. Government’s 2024 Fiscal Year
Net interest payments cost the U.S. government $882 billion in fiscal year 2024, the third-largest outlay in the final budget.
U.S. Government’s 2024 Budget Visualized
This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.
The U.S. government faced one of its largest budget deficits ever in fiscal year 2024, due to rising interest rates and government spending significantly exceeding revenue.
This graphic visualizes the U.S. government’s final budget results for the fiscal year 2024, showing the total receipts and outlays.
The data comes from the U.S. Department of the Treasury, with the U.S. fiscal year running from Oct. 1, 2023 to Sept. 30, 2024.
Receipts are the total revenue the government collects from taxes and other income sources. Meanwhile, outlays are the total amount the government spends on public services, programs, and other expenses.
U.S. Budget Deficit Reaches $1.8 Trillion in 2024
Below, we show the U.S. government’s total receipts by source and outlays by function for the fiscal year 2024.
Category | Item | Amount (Billions) |
---|---|---|
Receipts by Source | Individual Income Taxes | $2,426 |
Receipts by Source | Social Insurance & Retirement | $1,710 |
Receipts by Source | Corporation Income Taxes | $530 |
Receipts by Source | Excise Taxes | $101 |
Receipts by Source | Customs Duties | $77 |
Receipts by Source | Miscellaneous | $43 |
Receipts by Source | Estate and Gift Taxes | $32 |
Receipts by Source | Total Receipts | $4,919 |
Outlays by Function | Social Security | $1,461 |
Outlays by Function | Health | $912 |
Outlays by Function | Net Interest | $882 |
Outlays by Function | Medicare | $874 |
Outlays by Function | National Defense | $874 |
Outlays by Function | Income Security | $671 |
Outlays by Function | Veterans' Benefits & Services | $325 |
Outlays by Function | Education | $305 |
Outlays by Function | Transportation | $137 |
Outlays by Function | Other | $311 |
Outlays by Function | Total Outlays | $6,752 |
Deficit | $1,833 |
The U.S. government is currently running a significant deficit of $1.83 trillion, an increase of $138 billion from fiscal year 2023.
This marks the third-largest budget deficit in U.S. history, following the pandemic-related deficits of 2020 and 2021.
The largest portion of government receipts comes from individual income taxes, which account for $2.43 trillion of the total revenue, followed by Social Insurance & Retirement contributions at $1.71 trillion.
Total receipts increased by about $479 billion from 2023 to 2024.
The biggest spending categories for fiscal 2024 were Social Security at $1.46 trillion and health at $912 billion. Total outlays increased by about $617 billion from 2023 to 2024.
Gross interest payments on the U.S. debt continue to be a significant drag on the budget, surpassing the $1 trillion mark for the first time. Net interest payments, which account for gross interest payments minus any interest income the government receives, cost the government $882 billion in 2024—more than Medicare or defense spending.
Significant and increasing government debt is expected to cause the net interest burden reach over $1 trillion in the coming years.
Learn More on the Voronoi App
To learn more about the costs of government debt, check out this graphic that shows the net interest expense as a percentage of government revenue across major nations.
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