The Federal Election Commission (FEC) has announced new contribution limits for the 2023-2024 election cycle. The FEC indexes certain contribution limits for inflation every two years. In recent cycles, limits have increased by $100 each cycle, but following high rates of inflation over the past two years, the FEC substantially increased several contribution limits this cycle.
Individuals may now give each federal candidate $3,300 per election, up from the previous limit of $2,900. The primary and general elections are considered separate elections, so an individual may now give a total of $6,600 per candidate, per cycle. Per-election limits are in effect for the two-year cycle beginning the day after the general election and ending the day of the next general election (November 9, 2022 to November 5, 2024).
The FEC also raised the limits on individual contributions to national party committees. Individuals may now give $41,300 per calendar year to national party committees, up from the previous annual limit of $36,500. Individual donors may also give up to $123,900 per year to each of the three national party committee accounts maintained to fund presidential nominating conventions, election recounts and other legal proceedings, and party headquarters buildings, respectively. This limit is up from the previous limit of $109,500 per year. Yearly limits are in effect for calendar years 2023 and 2024.
Here's a chart that summarizes the key contribution limits for 2023-2024:
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