Just a day following President Joe Biden’s announcement that he would not pursue re-election, the Democratic Party experienced a remarkable fundraising surge, amassing $100 million through its primary platform, ActBlue. This impressive total was recorded over just two days, illustrating the immediate response from donors after Biden’s declaration.
ActBlue, known for facilitating donations for Democratic organizations, reported that on Sunday alone, $66.9 million flowed in to support Vice President Kamala Harris’s presidential campaign launch. This marked the most significant fundraising day of the 2024 election cycle for ActBlue. In comparison, the previous record for a single-day fundraising event occurred during the first presidential debate between Biden and Trump on September 30, 2020.
With Sunday’s contributions, ActBlue reached a remarkable milestone of $14 billion raised since its inception nearly 20 years ago. For perspective, WinRed, the Republican fundraising platform established in 2019, has raised approximately $4.3 billion since its launch.
ActBlue’s statement on social media revealed fresh enthusiasm among donors, highlighting that many individuals made their first-ever political contributions in response to the recent developments. The grassroots movement appears to be invigorated, showcasing increased participation from small-dollar donors.
Additionally, the Biden-aligned super PAC Future Forward secured $150 million in new commitments from major backers within a day of Biden’s announcement, while Swing Left raised over $160,000 almost immediately. Democratic donors, including notable figures like George and Alex Soros, have publicly endorsed Harris, reinforcing her campaign’s financial backing.
The fundraising momentum reflects a broader commitment to support the Democratic candidate, following the challenges and successes experienced in previous election cycles. Despite Biden’s exit from the race, this wave of support bodes well for Harris’s campaign, positioning her as a formidable contender for the presidency.
In summary, the strong financial backing demonstrated in these recent days showcases an engaged Democratic base ready to rally behind new leadership, potentially rejuvenating the party’s efforts as the election season unfolds. With significant funding secured, the Democratic Party is poised to put up a vigorous fight in the upcoming elections.