Just a day after President Joe Biden announced he would not seek re-election, the Democratic Party experienced a remarkable surge in fundraising, amassing $100 million through its primary fundraising platform, ActBlue. This impressive total highlights the party’s ability to mobilize donor support quickly, reflecting a strong grassroots response.
On Sunday alone, donations surged to $66.9 million following Vice President Kamala Harris’s presidential campaign launch, marking the most substantial fundraising day in the current election cycle for ActBlue. This surpassed previous high-engagement fundraising days, notably the one during the first presidential debate in 2020. The rapid influx of donations has propelled ActBlue to a milestone of $14 billion raised since its inception two decades ago, signifying its central role in Democratic fundraising efforts.
ActBlue reported an enthusiastic increase in new donors, with many individuals making their first contributions. This infusion of grassroots support can energize the party’s base and invigorate the upcoming campaign strategies. Additionally, Future Forward, a super PAC aligned with Biden, secured $150 million in commitments from major donors shortly after his endorsement of Harris. Meanwhile, Swing Left reported raising over $160,000 within the same 24-hour period.
Prominent Democratic donors, including Roger Altman and the Soros family, have signaled strong support for Harris, further enhancing her campaign’s financial expectations. The fundraising momentum is crucial for the Democratic Party as it prepares for an intense electoral cycle.
This surge in financial backing contrasts with previous fundraising events, including those following pivotal moments for both Biden and Trump, showcasing the evolving dynamics within the electoral landscape. As the Democratic Party gears up for the campaign ahead, the unity and support reflected in this fundraising success may offer a hopeful outlook for their political ambitions.
Overall, this post-announcement fundraising response illustrates not only the resilience of Democratic support but also a revitalized commitment to ensuring a competitive edge in the upcoming elections.