Just one day after President Joe Biden announced he would not run for re-election, the Democratic Party reported raising an impressive $100 million through ActBlue, their primary fundraising platform. This significant amount was gathered over the course of two days, as indicated by a tracker maintained by Ryan Murphy of The Marshall Project. While this tally is unofficial, it highlights the robust financial support the party is receiving ahead of the upcoming elections.
On Sunday alone, Vice President Kamala Harris’s presidential campaign benefited from $66.9 million in donations, marking the highest single-day fundraising total for the 2024 cycle on ActBlue. This surpassed even previous high-traffic moments for donations, such as during the first presidential debate between Biden and Trump in September 2020.
The recent surge in contributions has allowed ActBlue to surpass a remarkable milestone of $14 billion raised since its inception two decades ago. In contrast, its Republican counterpart, WinRed, has raised approximately $4.3 billion since its launch in late 2019. ActBlue expressed enthusiasm over the rising engagement of new donors, noting that many individuals were making their first-ever donations during this period.
Following Biden’s announcement and endorsement of Harris, the pro-Biden super PAC Future Forward garnered $150 million in new commitments from major donors in just 24 hours. Meanwhile, Swing Left, an organization focused on supporting the ultimate Democratic nominee, reported over $160,000 raised within the same timeframe.
Prominent Democratic donors, including Roger Altman and the Soros family, have pledged their support to Harris’s campaign, which is set to be well-financed. The fundraising momentum reminds supporters of the party’s potential strength as they build toward the next electoral contests.
In comparison, Biden’s past fundraising highs often occurred after politically charged events, demonstrating how electoral dynamics can significantly impact donor enthusiasm. Overall, the latest fundraising figures reflect a strong grassroots movement rallying behind the Democratic candidates as they prepare for the upcoming election cycle.
In summary, the Democrats have seen a significant influx of donations following Biden’s announcement not to seek re-election, with Harris emerging as a key candidate supported by both grassroots and major donors. This highlights a dynamic political environment where donor enthusiasm can quickly reshape financial landscapes in the lead-up to elections.
The positive takeaway from this development is the mobilization of new contributors to the Democratic cause, indicating a potentially vibrant grassroots movement as the party gears up for the 2024 elections.