An estimated record $7 billion flooded campaign war chests for the 2012 election with outside groups potentially exceeding contributions made by political parties, said Federal Election Commission chairwoman Ellen Weintraub in an USA Today report.
According to findings by the FEC, Presidential and Congressional candidates spent $3.2 billion, the Republican and Democratic National Committees spent a combined $2 billion, and outside groups, including PACs, also spent a whopping $2 billion dollars.
"This shows in stark terms that the balance of power is shifting away from candidates and parties," said Sheila Krumholz, Executive Director of the Center for Responsive Politics.
Officials say the high amount spent by outside groups is a result of super PACs, political organizations that are allowed to raise and spend an unlimited amount of cash as long as they don't coordinate with any political campaigns. In total, super PACs spent an estimated $950 million, official said.
The 2012 campaign season was the first Presidential election for super PACs since they were ruled legal by the Supreme Court in the 2010 Citizens United case. The Supreme Court's decision sparked controversy and opposition from liberals who claimed the ruling gave too much power to wealthy campaign contributors.
Experts expect the spending by super PACs to continue to grow in future elections, adding that many will align with candidates. Already, 54 super PACs have been launch with many to have connections to candidates expected to run in the 2014 midterm election.