FEC Releases Increased Contribution Limits for the 2023-2024 Cycle
February 2, 2023 – Today, the Federal Election Commission (“FEC”) released increased contribution limits for the 2023-2024 election cycle. These increased limits apply to contributions from individuals and non-multicandidate PACs to federal candidates and national party committees, as well as to certain specialized accounts established by national party committees.
The new contribution limits are:
Individuals and Non-multicandidate PACs to Candidates
The limit on contributions made by individuals and by non-multicandidate PACs to candidates increased from the previous limit of $2,900 per election to $3,300 per election—an increase of $400 per election.
This also means married couples making joint contributions may now contribute $6,600 per election to a federal candidate, or $13,200 per election cycle.
Individuals and Non-multicandidate PACs to National Party Committees
The limit on contributions made by individuals and by non-multicandidate PACs to national party committees increased from the previous limit of $36,500 per calendar year to $41,300 per calendar year—an increase of $4,800 per calendar year.
Contributions to Special National Party Committee Accounts
The limit on contributions made to certain accounts established by national party committees related to presidential nominating conventions, election recounts and other legal proceedings, and headquarters buildings was also increased.
The new limit on contributions to each of these accounts by individuals and by non-multicandidate PACs is $123,900 per calendar year.
What This Means
The FEC releases inflation-adjusted contribution limit increases in odd-numbered years. The increased limits released by the FEC today represent one of the largest increases in its history and will apply to all contributions made during 2023 and through the 2024 general election and potential runoffs.
These increased contribution limits will have an immediate impact on candidate committees, national party committees, and other political committees. All affected committees should review their fundraising and donor materials, as well as their joint fundraising agreements and notices, to ensure that they reflect these increased limits.
However, these increased contribution limits will not impact contributions to Super PACs, which make independent expenditures in connection with elections and are permitted to accept unlimited contributions from individuals and corporations, nor will they affect multicandidate PACs, which are subject to limits that are not indexed for inflation.