Biden's Exit Sparks $40M Democratic Donor Surge
Democrats raise record-breaking $40 million in 24 hours after President Biden's withdrawal from the presidential race, uniting behind VP Kamala Harris and signaling a significant shift in momentum for the party.
Democrats seized the opportunity to rally behind Vice President Kamala Harris following President Joe Biden's withdrawal from the presidential race, raising a staggering $40 million in online donations in just 24 hours. The influx of donations began immediately after Biden's announcement, according to ActBlue, the platform processing the contributions.
Prior to the announcement, donations were trickling in at an average of less than $200,000 per hour. However, in the first hour after Biden's withdrawal, donations skyrocketed to $7.5 million, signaling a significant surge in support for Harris and the Democratic party. ActBlue's platform supports a broad range of Democratic causes, including House and Senate candidates, political nonprofits, and beyond.
This remarkable fundraising haul demonstrates the party's unified support for Harris and highlights the pivotal moment in the election cycle. The sudden influx of donations underscores the determination of Democratic supporters to rally behind their candidate and secure a victory in the upcoming election.
Kenneth Pennington, a Democratic digital strategist, shared his excitement on X proclaiming, “This could be the Democratic Party's most successful fundraising moment ever.”
The previous single-day donation record on ActBlue was set in September 2020, following the passing of Justice Ruth Bader Ginsburg, with a total of approximately $73.5 million. However, on Sunday, July 21, donations exceeded $50 million, making it one of the platform's most successful days ever.
This remarkable surge in donations comes at a crucial time for the Democratic Party, which has been grappling with internal conflicts and the urgent need to regain momentum against former President Donald J. Trump. The influx of funds demonstrates the party's determination to unite and fight against a common opponent, marking a significant turning point in the election cycle.
After President Biden's underwhelming debate performance, major Democratic donors had significantly scaled back their funding. However, his decision to exit the race and endorse Vice President Harris had a galvanizing effect on the party's base, leading to a notable resurgence in fundraising efforts.
The unified support for Harris, fueled by Biden's endorsement, has revitalized Democratic donors' enthusiasm and generosity. As Harris gains momentum in her bid for the nomination, this influx of financial support will prove instrumental in driving her campaign forward and amplifying her message.
President Biden's decision to withdraw from the presidential race was expected by many, though the timing caught some by surprise.
He made this announcement while recuperating from Covid at his Delaware beach house. In a letter published on X, Biden looked back on his presidency, describing it as the greatest honor of his life.
He emphasized that stepping down was in the best interest of both the party and the country, enabling him to concentrate on fulfilling his duties for the remainder of his term.
President Biden's prompt and unequivocal endorsement of Vice President Harris led to a swift rebranding of his campaign to 'Harris for President', demonstrating a united front. This move was swiftly followed by expressions of support from prominent Democrats and potential rivals, such as California Governor Gavin Newsom, who rallied behind Harris.
The substantial surge in donations that ensued marks a pivotal moment for the Democratic Party, signifying a newfound sense of unity and purpose.
This influx of support is expected to play a crucial role in bolstering Harris's campaign and propelling her forward in the nomination race.
With a significant war chest now at their disposal, the Democratic Party seeks to capitalize on this momentum to overcome recent obstacles and strengthen their position in the forthcoming election.
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