Harris Campaign Raises $310 Million in July, Doubling Trump’s Haul
In a landmark turn of events, the Kamala Harris presidential campaign announced a staggering total of $310 million raised in the month of July 2024, more than double the contributions of her Republican counterpart. This news comes as a game changer for the Democratic party, signaling a massive surge in grassroots and high-end donor support behind the new lead of the ticket.
Harris’ Historic July Fundraising
A dominant portion of this impressive $310 million, more than $200 million, was procured in the week following Harris’ candidacy announcement. The campaign also reported that two-thirds of these funds were contributed by first-time donors, further indicating an encouraging shift in party enthusiasm.
This leap in financial backing is a stark contrast to the preceding apprehension within donors, who expressed concerns about President Joe Biden’s viability as a candidate, subsequently restraining sizeable checks and supportive fundraising events. The July fundraising figures highlight a remarkable turnaround in Democratic fundraising fortunes, significantly overshadowing former President Donald Trump’s July haul.
Comparisons with the Trump Campaign
Trump’s campaign also released its July figures, reporting nearly $139 million raised, accompanied by $327 million cash in hand. Despite July being a solid fundraising month for Trump that saw him accept his party’s nomination at the Republican National Convention, announce his running mate, Ohio Senator JD Vance, and survive an assassination attempt, Harris’s fundraising still doubled his efforts.
This is the second consecutive month that Democrats have outdone Trump’s team, lifting Democratic fundraising above the $1 billion mark at an unprecedented speed, according to the Harris campaign.
Trends and Insights
Generational shifts in donor support were also highlighted by the Harris campaign, which observed over ten times the number of GenZ donors contributing compared to June and over eight times the millennial donors than the preceding month. Remarkably, women made up sixty percent of July donors. Additionally, various coalition groups including “Black Women for Harris”, “Latinas for Harris” and “White Dudes for Harris” raised over $20 million for Team Harris.
Despite this record-breaking haul, Harris’ campaign falls short of the all-time high set in September 2020, when Biden’s campaign and the Democratic Party raised $383 million. The real challenge for Harris moving forward is sustaining this current thermonuclear fundraising pace.
Forward Momentum
Brendan Glavin, deputy research director at OpenSecrets, which tracks political funding, commends the impressive amounts raised in such a short timeframe but cautions the necessity to maintain momentum and convince donors to continue their financial support through the traditional fundraising peak in the fall.
Ultimately, the July figures underscore an energizing swing in Democratic enthusiasm, raising hopes for an encouraging electoral season.
