Just a day after President Joe Biden announced he would not seek re-election, Democratic fundraising efforts surged dramatically, amassing $100 million through the ActBlue platform. ActBlue, a political action committee dedicated to fundraising for Democratic organizations, showcased this increase via a live tracker maintained by Ryan Murphy from The Marshall Project. While this tally is not officially confirmed, it reflects the organization’s performance ahead of upcoming required disclosures.
On a record-setting day, Sunday saw an impressive contribution of $66.9 million directed towards Vice President Kamala Harris’s newly launched presidential campaign. This marked the highest fundraising day in the 2024 election cycle for ActBlue, surpassing even notable events like the Biden-Trump debate on September 30, 2020. Overall, ActBlue has now raised a total of $14 billion since its inception two decades ago, a stark contrast to the $4.3 billion raised by its Republican counterpart, WinRed, since its establishment in 2019.
ActBlue expressed enthusiasm over the influx of donations, stating that many first-time donors had joined the movement within just 24 hours. Additionally, Future Forward, a super PAC aligned with Biden, reportedly secured $150 million in pledges from major contributors shortly after Biden’s endorsement of Harris. The grassroots momentum continued as Swing Left announced raising over $160,000 within the same timeframe.
Prominent financiers, such as Evercore founder Roger Altman, affirmed their support for Harris’s campaign, indicating strong financial backing from established Democratic donors, including George and Alex Soros.
Historically, this kind of fundraising spike follows Biden’s previous defeats against Trump, where he raised substantial amounts in immediate response to various situational catalysts, reaffirming a pattern of resilience in fundraising under pressure.
This latest fundraising surge not only highlights the immediate response of the Democratic base but also sets a promising tone for the Harris campaign as they navigate the early stages of the 2024 election cycle. The unprecedented engagement from new donors is a positive indication of grassroots support that may continue to build momentum moving forward, potentially energizing the party as they prepare for upcoming challenges.
In summary, even amidst challenges, the Democratic fundraising landscape demonstrates remarkable adaptability and community support, laying a strong foundation as they head towards the 2024 presidential elections.