Following Joe Biden’s withdrawal from the Democratic presidential race and the subsequent nomination of Kamala Harris as his running mate, a surge of donations flooded into Harris’ campaign account. A CNN analysis of campaign reports revealed that Harris’ campaign received more than double the amount of donations that Trump’s campaign collected during a three-day period surrounding his felony conviction in New York. This influx of donations quickly diminished the cash advantage that Trump once held over his Democratic rival.
In July, the Harris campaign announced that it had collected an impressive $310 million through joint fundraising efforts with Democratic Party committees, surpassing the $139 million raised by the Trump political operation. A Harris campaign official stated that they were on track to surpass the $500 million mark in fundraising in the near future. This significant financial backing demonstrates the strong donor enthusiasm for Harris’ surprise candidacy and showcases her ability to compete with Trump on the fundraising front.
The CNN analysis focused on the sums raised by each candidate’s main campaign committee, highlighting the value of these funds in politics. By law, campaign committees are entitled to discounts on television advertising, giving candidate-controlled money a greater impact than donations to parties and outside groups. This emphasis on main campaign committee donations underscores the strategic importance of raising funds directly for the candidate’s campaign.
The unexpected change at the top of the Democratic ticket sparked a rapid consolidation of Democratic support for Harris, driving a wave of contributions to her campaign. This newfound momentum and financial backing not only leveled the playing field between Harris and Trump but also set a new standard for fundraising efforts in the 2020 presidential election. Harris’ ability to attract a large volume of donations in a short period of time reflects the growing excitement and enthusiasm surrounding her candidacy.
As Harris continues to raise funds at a steady pace, her campaign stands poised to mount a competitive challenge against Trump in the upcoming election. The significant amount of financial support that Harris has garnered underscores her appeal to donors and voters alike. With the backing of a strong fundraising team and a growing base of supporters, Harris has solidified her position as a formidable contender in the race for the White House, setting the stage for a closely contested election in the months ahead.
