Just a day after President Joe Biden announced he would not run for re-election, the Democratic Party experienced a significant fundraising boom, receiving $100 million from donors through ActBlue, its primary fundraising platform. This notable surge occurred within a two-day period and was documented by Ryan Murphy, a developer at The Marshall Project, using a live tracker. While the total is not officially confirmed, it offers meaningful insight into the party’s fundraising efforts ahead of the upcoming election.
On the first day of fundraising, donors contributed a remarkable $66.9 million, coinciding with the launch of Vice President Kamala Harris’s presidential campaign. This marks the largest single-day fundraising total in the 2024 election cycle for ActBlue. The previous high was recorded on September 30, 2020, during the first presidential debate between Biden and Trump.
Overall, ActBlue has achieved a significant milestone, raising $14 billion since its inception two decades ago. In contrast, WinRed, the Republican fundraising platform launched in late 2019, has raised approximately $4.3 billion.
ActBlue highlighted the positive response they received from new donors, with many stating it was their first contribution ever. This influx of donations demonstrates a revitalized grassroots movement among the Democratic base. Additionally, Future Forward, a super PAC aligned with Biden, announced it secured $150 million in commitments from major donors within 24 hours of his announcement. Swing Left, which supports the eventual Democratic nominee, also reported raising over $160,000 within the same timeframe.
Support for Harris’s campaign appears strong, with endorsements from prominent Democratic donors such as George and Alex Soros. Historical comparisons reveal that Biden typically experienced fundraising boosts following major events, including a significant rise after his televised debate loss to Trump in June.
Despite Trump’s substantial fundraising efforts—including $69 million raised following his conviction on felony charges—Biden’s campaign and affiliated groups managed to raise $332.4 million from April to June, although Trump’s total during the same period was higher at $431.2 million.
This rapid fundraising activity indicates a robust response from Democratic supporters, potentially positioning the party favorably as it gears up for the election cycle. The record-breaking donations could signal a united front among Democrats as they rally around Vice President Harris’s campaign, showcasing renewed enthusiasm for their cause.
A hopeful perspective suggests that this surge in contributions could lead to increased energy and engagement among voters, ultimately influencing the electoral landscape.