Just one day after President Joe Biden announced he would not seek re-election, the Democratic Party experienced a significant surge in donations, raising $100 million through ActBlue, its primary fundraising platform. This remarkable feat occurred over a span of just two days, highlighting the excitement and support surrounding the launch of Vice President Kamala Harris’s presidential campaign.
On Sunday alone, contributions reached an impressive $66.9 million, marking the largest single-day fundraising total for the 2024 election cycle for ActBlue. The company has celebrated this milestone, with comments indicating a notable increase in participation from new small-dollar donors who are joining the grassroots movement for the first time. This trend is not only encouraging for Democratic campaigns but also reflects a growing interest in political engagement among the electorate.
In a move that underscores strong backing for Harris, the super PAC Future Forward secured $150 million in commitments from major donors shortly after Biden’s announcement and endorsement. Additionally, the organization Swing Left reported raising over $160,000 within 24 hours to support the eventual Democratic nominee.
The fundraising figures also put in perspective the competitive nature of this election cycle. For comparison, since its inception two decades ago, ActBlue has raised a staggering $14 billion, while its Republican equivalent, WinRed, which launched in 2019, has gathered about $4.3 billion in donations.
Leading Democratic donors such as George and Alex Soros have expressed their support for Harris’s campaign, suggesting that her candidacy will be well-financed as the election season progresses. This financial backing, combined with increased grassroots contributions, indicates a robust and energized base heading into the election.
Overall, the swift increase in donations following Biden’s announcement suggests a thriving Democratic effort as it gears up for the upcoming election cycle. With new donors stepping forward, the momentum could play a critical role in shaping the campaigns and ultimately influencing the election outcome.
Hopeful prospects arise as the Democratic Party rallying together, with both established and first-time donors contributing, reflects a democracy that remains vibrant and engaged despite uncertainties.