In the wake of President Joe Biden’s announcement that he will not pursue re-election, the Democratic fundraising platform ActBlue has experienced a remarkable surge, raising $100 million in just two days. This noteworthy achievement offers a glimpse into the financial strength of the Democratic Party as it gears up for the 2024 election cycle.
On a single day, donors contributed an impressive $66.9 million to support Vice President Kamala Harris’s newly launched presidential campaign, marking the largest fundraising day thus far in this election season for ActBlue. This record-setting day comes in comparison to significant donor activity witnessed during key political moments, such as the first presidential debate between Biden and Trump in September 2020.
With the latest contributions, ActBlue has now raised an astounding total of $14 billion since its inception two decades ago. In contrast, WinRed, the Republican fundraising counterpart established in 2019, has amassed approximately $4.3 billion in donations.
ActBlue expressed its enthusiasm on social media, noting an influx of new small-dollar donors, which highlights a growing grassroots movement within the Democratic base. Furthermore, the super PAC Future Forward, aligned with Biden, secured $150 million in new commitments shortly after Biden’s announcement, while the group Swing Left raised over $160,000 within the same timeframe.
Prominent Democratic figures, including mega-donors George and Alex Soros, have pledged their support for Harris’s campaign, indicating strong backing for her candidacy. This wave of donations follows a pattern observed in previous election cycles, wherein key political events generate significant fundraising spikes for candidates.
As the Democratic Party charts its course for the upcoming election, this flurry of financial support could serve as a powerful motivator for mobilizing base support. The positive momentum generated by these donations can be interpreted as a testament to the party’s resilience and commitment to ensuring their message resonates strongly with both donors and voters alike.
In summary, the recent fundraising surge exemplifies the Democratic Party’s robust grassroots support and the momentum building behind Kamala Harris’s presidential bid, setting the stage for a competitive 2024 election cycle.