The goal of this study is to analyze the effects of campaign spending on the percentage of votes received for a candidate and the election outcome. This is achieved through correlating independent variables specifying the candidate’s spending, candidate’s characteristics, and state’s characteristics on the dependent variable of either vote percentage for a candidate or wins and losses. Using Tobit regression analysis, for every $1 dollar increase in campaign spending, the vote percentage received will increase by 6.77×10^-7. Using Probit regression analysis, for every $1 dollar increase in campaign spending the probability of winning increases by 5.12×10^-8. Other variables such as the incumbent status of a candidate, celebrity status, party affiliation, scandals, percentage of registered voters in the candidate’s party, state partisanship, state unemployment, and state population were included in the study to further analyze other factors determining the percentage of votes received and ultimately, the election outcome.