Kamala Harris raises record $81M in 24 hours after Biden's exit

Vice President Kamala Harris has shattered fundraising records, drawing an unprecedented $81 million in the 24 hours following President Joe Biden's decision to step down, campaign spokesperson Kevin Munoz announced Monday.

As AP reports, the substantial sum, which includes contributions to Harris’ campaign, the Democratic National Committee, and joint fundraising committees, marks the largest single-day total ever reported in U.S. history, according to the campaign.

“The historic outpouring of support for Vice President Harris represents exactly the kind of grassroots energy and enthusiasm that wins elections,” Munoz said.

In a related development, Future Forward, the leading super PAC in Democratic politics, secured $150 million in commitments from donors who were previously uncertain or uncommitted, a senior adviser revealed.

The combined fundraising surge places Harris in a formidable position to clinch the Democratic Party’s presidential nomination at next month’s national convention. This financial backing is bolstered by endorsements from a majority of Democratic governors and members of Congress, ensuring Harris can effectively compete with former President Donald Trump, who has also reported significant fundraising achievements despite legal troubles and an assassination attempt.

“This is the next generation people have been waiting for,” said Michael Kempner, a member of Biden’s national finance team. “The donors I’ve spoken to are enthusiastic about supporting her.”

Harris’ 24-hour total surpasses the $50 million Trump raised following his felony convictions and the $38 million Biden garnered after a contentious debate. The Trump campaign has not disclosed its latest fundraising figures.

Overall, 888,000 grassroots donors contributed to Harris’ campaign in the past day, with over 500,000 making their first donation of the 2024 cycle. While a few elite donors remain hesitant, most are rallying behind Harris to leverage her momentum.

Several major donor calls are scheduled by Harris allies, and the Democratic National Committee will host another midweek.

Many big-dollar donors and rank-and-file Democrats had hoped Biden would step aside, citing concerns about his age and stamina. Michael Smith, a Los Angeles donor, expressed relief and excitement, anticipating a dynamic campaign ahead.

However, not all reactions were positive. Tech billionaire Vinod Khosla voiced his preference for an open process at the convention rather than a “coronation,” while donor John Morgan indicated he would not raise more funds for Harris, having already contributed $1 million to Biden.

Chad Griffin, a prominent Democratic fundraiser, praised Harris as the trusted leader needed to secure victory in November. “I am all in to elect Kamala Harris our next President of the United States,” he said.

With Biden’s endorsement, Harris inherits his national campaign infrastructure and significant funds. The Biden-Harris campaign reported nearly $96 million cash on hand at the end of June.

On Sunday, new FEC filings officially listed Harris as the principal candidate. While some debate exists over her control of the funds, few anticipate serious legal challenges.

Harris’ campaign continued aggressive fundraising efforts Monday, with appeals emphasizing the historic nature of her candidacy. “Now is our chance to make history,” she urged in a text message to supporters.

[Information sourced from AP]