Just one day after President Joe Biden announced his decision not to run for re-election, the Democratic Party successfully raised $100 million from donors through its primary fundraising platform, ActBlue. This remarkable achievement comes thanks to substantial support for Vice President Kamala Harris’s presidential campaign, which contributed to a record-breaking $66.9 million in donations on a single day, noted as the most lucrative day for fundraising in the current election cycle.
The data on this fundraising surge was tracked by Ryan Murphy of The Marshall Project, with ActBlue themselves reporting that the platform has surpassed an impressive $14 billion in total cash raised since its inception two decades ago. In contrast, WinRed, the Republican counterpart established in late 2019, has collected approximately $4.3 billion.
ActBlue highlighted an exciting trend, noting that many contributors indicated this was their first time donating, showcasing a growing grassroots movement within the Democratic factions. Following Biden’s announcement and his endorsement of Harris, Future Forward, a super PAC aligned with Biden’s interests, received $150 million in new commitments from influential donors within 24 hours. Additionally, Swing Left reported raising over $160,000 in the same timeframe for the upcoming Democratic nominee.
Notable Democratic backers, such as mega-donors George and Alex Soros, have also expressed their support for Harris, promising a well-financed campaign ahead. Historically, Biden’s past fundraising peaks were recorded after significant political events, including debates and legal controversies surrounding former President Trump, who also saw substantial financial support during these pivotal moments.
While there’s fierce competition between Democratic and Republican factions, the recent fundraising efforts offer a glimpse of renewed energy and commitment among Democrat supporters, paving the way for an invigorated campaign landscape as the election approaches.
This fundraising enthusiasm reflects a hopeful outlook for the Democratic Party, indicating that grassroots support is on the rise, which could play a crucial role in the upcoming election cycle. It serves as a reminder that political dynamics are constantly evolving, suggesting that even in challenging circumstances, there are pathways to mobilizing significant financial support and invigorating grassroots movements.