Kamala Harris is shattering fundraising records as Democratic Party donors large and small open their wallets for the vice president on the heels of President Joe Biden’s stunning decision to step aside.
In total, Harris’s team raised more than $81 million in the 24-hour period since Biden’s announcement, campaign spokesman Kevin Munoz said Monday.
The massive sum, which includes money raised across the campaign, the Democratic National Committee and joint fundraising committees, represents the largest 24-hour sum reported by either side in the 2024 race. Harris’ campaign said it was the largest single-day total in U.S. history.
“The historic outpouring of support for Vice President Harris represents exactly the kind of grassroots energy and enthusiasm that wins elections,” Muñoz said.
Hours earlier, Future Forward, the largest super PAC in Democratic politics, announced it had secured $150 million in commitments over the same period from donors who “were previously stagnant, unsure or uncommitted,” a senior adviser said.
Taken together, the fundraising explosion puts Harris in a commanding position to secure the Democratic Party’s formal presidential nomination at next month’s national convention, if not sooner. The embrace of the donor class comes at a time when she has the backing of the vast majority of Democratic governors and members of Congress.
The massive haul also ensures Harris and her allies can compete with Donald Trump, who has generated impressive fundraising totals in recent weeks as he fights to return to the White House after multiple felony convictions and an attempted murder.
“This is the next generation that people have been waiting for,” Michael Kempner, a member of Biden’s national finance team, said of Harris’s emergence. “Donors I’ve spoken to are excited to support her. And even those who might have preferred an open convention have quickly coalesced around her overnight.”
Harris’ initial 24-hour fundraising haul easily surpassed the $50 million Trump raised in the immediate aftermath of the felony convictions and the $38 million Biden raised in the four days following last month’s disastrous debate. Trump’s campaign has not said how much money it raised in the immediate aftermath of last weekend’s assassination attempt; a spokesperson did not respond to a request Monday.
Breaking news from Canada and around the world delivered to your inbox, as it happens.
Get breaking national news
To receive breaking news stories affecting Canada and the world, sign up to receive breaking news alerts sent directly to you when they happen.
Overall, Harris’ campaign said 888,000 grassroots donors made donations in the previous 24 hours; more than 500,000 were making their first contribution of the 2024 campaign cycle.
And while there are some open holdouts among the party’s donor elite, most appear to be lining up behind Harris as they move to help capitalize on her newfound momentum.
Harris allies scheduled at least two major donor calls on Monday, while the Democratic National Committee was scheduled to host another major donor call midweek.
Most big donors wanted Biden to step aside, as did most rank-and-file Democratic voters. And on Monday, there was a palpable sense of relief and excitement among those who feared Biden would not choose to step aside, despite overwhelming concerns about his physical and mental strength.
“It was a cliffhanger. Nobody really knew what was going on,” said Michael Smith, a Los Angeles donor who, along with his partner James Costos, has held numerous fundraisers for Biden. “It’s a new game now. And in a world influenced by TikTok, the campaign ahead will be short, dynamic and reinvigorating.”
Not everyone was happy.
Democratic donor Vinod Khosla, a tech billionaire, said on social media that he is not ready to endorse Harris right away.
“I want an open process at the convention and not a coronation,” he posted on X. “The key remains who can best beat (Trump) above all other priorities, given the great danger he represents.”
John Morgan, another major Democratic donor, indicated he would not raise more money for Harris if she becomes the nominee, having already donated $1 million to Biden.
“You have to be enthusiastic or hope to get a political position to ask your friends for money. I have neither of those things. Now it’s up to the others,” Morgan wrote on X.
Such critics seemed to be in the minority on Monday.
Chad Griffin, a member of the national campaign finance committee and a top Democratic fundraiser in the Los Angeles area, said the party is lucky to have Harris “ready to finish the job she and President Biden started together.”
“She is the proven and trusted leader we need to lead us to victory in November,” he said in a statement. “I am fully prepared to elect Kamala Harris as our next President of the United States.”
With Biden’s endorsement, Harris’s campaign appears to have inherited his massive national infrastructure and the tens of millions of dollars her team had previously raised. As of late June, the Biden-Harris campaign reported nearly $96 million in cash in the bank, according to a filing with the Federal Election Commission.
On Sunday, the Biden-Harris campaign filed new documents with the Federal Election Commission that establish Harris as the front-runner. There is some debate among campaign finance officials about whether Harris now has full control of the funds, though few expect serious legal issues to arise.
Meanwhile, Harris’ campaign sent out a new wave of fundraising emails and text messages on Monday.
“Now is our chance to make history,” Harris said in a text message asking for $20 donors.
–AP writers Brian Slodysko and Christopher Megerian in Washington contributed.
© 2024 The Canadian Press
