Just one day after President Joe Biden announced he will not be seeking re-election, the Democratic Party experienced a remarkable fundraising surge, accumulating $100 million from donors through its primary fundraising platform, ActBlue. This information comes from a live tracker developed by Ryan Murphy from The Marshall Project, highlighting a significant moment in recent political fundraising.
On Sunday alone, donations for Vice President Kamala Harris’s presidential campaign amounted to an impressive $66.9 million, marking the highest single-day fundraising total in the 2024 election cycle for ActBlue. This eclipses previous record-breaking days, such as September 30, 2020, when Biden and Trump faced off in their first presidential debate.
The recent influx of contributions has helped ActBlue surpass the $14 billion mark in total funds raised since its inception two decades ago. In comparison, WinRed, the Republican fundraising platform established in late 2019, has generated approximately $4.3 billion over its operational years.
ActBlue expressed enthusiasm over the arrival of new donor support, stating, “We’ve seen so many folks saying they made their first ever donation in the last 24 hours! It’s so motivating to see new small-dollar donors join the grassroots movement!”
Moreover, within just 24 hours of Biden’s announcement and his endorsement of Harris, Future Forward, a super PAC aligned with Biden, secured $150 million in new commitments from prominent donors. Similarly, the organization Swing Left raised over $160,000 in support of the eventual Democratic nominee.
Support for Harris’s campaign seems robust, with influential figures like Evercore founder Roger Altman declaring her campaign will be “very well financed.” Major Democratic donors, including George and Alex Soros, have also shown their support for Harris.
In recent history, Biden’s fundraising peaks have coincided with significant political events, such as after he faced off against Trump during a debate last summer or following Trump’s criminal convictions. In a landscape marked by competitive fundraising efforts, pro-Biden groups raised $332.4 million from April to June, while their pro-Trump counterparts gathered $431.2 million.
Overall, the Democratic Party appears to be generating substantial momentum and support, leveraging recent developments to foster grassroots engagement and secure necessary campaign funding. This renewed energy could bode well for the upcoming election cycle, especially as new donors are actively participating in the political process.
Summary: Following President Biden’s announcement not to run for re-election, the Democratic Party raised $100 million in just two days, primarily through ActBlue. This surge highlights the significant support for Vice President Kamala Harris’s campaign, which collected $66.9 million in one day. Notable Democratic donors have rallied behind Harris, strengthening the party’s financial position in anticipation of the 2024 elections. The recent fundraising success reflects a positive shift towards grassroots engagement and could prove advantageous as the campaign progresses.