Kamala Harris‘ presidential campaign raised a staggering $310 million in July. That figure is more than double the amount raised by her Republican rival Donald Trump.
What Happened: The surge in fundraising was sparked by Harris’ entry into the presidential race. The campaign and its associated committees now boast $377 million in cash on hand, providing them with a $50 million advantage over Trump’s $327 million war chest.
According to the report by Politico, this influx of funds has significantly improved the financial situation of the Democrats, who had been struggling financially in recent months.
Following a series of setbacks for Joe Biden, including a poor debate performance and calls for him to step down, fundraising had stalled. However, Biden’s departure from the ticket on July 21 and Harris’ subsequent elevation reignited the fundraising efforts.
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Major Democratic donors pledged $150 million to a pro-Democratic presidential super PAC, and small-dollar donors flocked to support Harris’s campaign. A series of virtual fundraisers also raised more than $20 million.
Two-thirds of the July total came from first-time donors, with the majority of donations being $200 or less. The campaign also reported an increase in donations from Gen Z and millennial donors.
“This is a history-making haul for a candidate who will make history this November,” Harris campaign manager Julie Chavez Rodriguez told the outlet. “The tremendous outpouring of support we’ve seen in just a short time makes clear the Harris coalition is mobilized, growing, and ready to put in the work to defeat Trump this November.”
Why It Matters: The record-breaking fundraising haul signifies a shift in momentum for the Democratic Party. The substantial financial backing for Harris’s campaign indicates a broad base of support, including from younger donors, which could prove crucial in the upcoming election.
The funds will enable the campaign to invest in key battleground states and expand its outreach efforts, potentially swaying undecided voters.
The financial advantage over Trump’s campaign could also provide a strategic edge in the final months leading up to the election.
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