Just one day after President Joe Biden announced he would not run for re-election, the Democratic Party saw a significant boost in fundraising, totaling $100 million through its primary platform, ActBlue. This impressive amount came over a two-day period, as reported by Ryan Murphy from The Marshall Project, based on a live donation tracker from ActBlue, which has been active since 2004.
On Sunday alone, donations surged, with a remarkable $66.9 million raised to support Vice President Kamala Harris’s presidential campaign, marking a historic fundraising day in this election cycle. The previous high for daily donations was during the first presidential debate between Biden and Trump on September 30, 2020.
With this recent influx of donations, ActBlue celebrated an impressive milestone of raising $14 billion since its inception. In comparison, WinRed, the Republican fundraising platform launched in late 2019, has collected around $4.3 billion.
ActBlue shared that many new donors were inspired to contribute for the first time in the immediate aftermath of Biden’s announcement. This grassroots movement is a positive sign of increasing engagement among supporters, a potentially pivotal factor in upcoming elections.
Additionally, Future Forward, a super PAC aligned with Biden, secured $150 million in new commitments from major donors in the wake of the announcement, while Swing Left reported raising more than $160,000 within the same timeframe.
Renowned financier Roger Altman expressed confidence in Harris’s campaign, stating it will be “very well financed,” while major Democratic donors like George and Alex Soros have also shown their support.
The dynamics of financial backing in political campaigns have shown how quickly circumstances can change with strategic announcements. This significant influx of donations highlights the enthusiasm and commitment of Democratic supporters even as Biden steps aside, suggesting an energizing effect for the Harris campaign.
Overall, the Democratic fundraising surge presents a hopeful outlook as the party gears up for the 2024 elections, indicating strong grassroots support and momentum in a crucial election year.