Federal Election Commission hikes contribution limits ahead of 2024 election cycle
The Bipartisan Campaign Reform Act of 2002 established limits for contributions by individuals to candidates and national party committees starting with the 2004 election cycle. The commission increases contribution limits every odd-numbered year to reflect changes in inflation. Inflation skyrocketed in 2022 to the highest level in four decades, and unprecedented contribution limit increases reflect the historic economic heat.
* The federal minimum wage for covered nonexempt employees is $7.25 per hour. It has been since 2009.
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