President Joe Biden’s decision to withdraw from the 2024 White House run sparked an almost unprecedented rush in online donations to Democrats, totaling more than $50 million in a single day. Such an outpouring is more than just statistics; it is the tale of a party at a crossroads, mobilizing with newfound vigor as Vice President Kamala Harris emerges as the new face of the campaign.
The figures, scrupulously documented by ActBlue, the Democratic fundraising platform, showed a huge trend change. Following Biden’s declaration, donations increased from a modest $200,000 per hour to an adrenaline pumping $11.5 million. Sunday ended up being ActBlue’s third most successful fundraising day of all time. This wasn’t just a wave; it was a tsunami of solidarity, similar to the day after Supreme Court Justice Ruth Bader Ginsburg’s death in 2020, when ActBlue processed a whopping $73.5 million.
The situation seems like a communal sigh of relief and a rallying call all at once. Kenneth Pennington, a seasoned Democratic digital strategist, accurately called it on social media site X as probably “the greatest fundraising moment in Democratic Party history.”
Internal squabbles and slow momentum have plagued recent months, particularly in light of Biden’s poor debate performances. While his resignation was unexpected, it appears to have sparked a renewed feeling of purpose among party supporters. It’s a classic example of rallying the troops, transforming a perceived setback into a springboard for something bigger.
But let’s dig deeper into the financial mechanics at play here. Biden’s campaign had a sizable war chest—$91 million on hand, with affiliated committees bringing the total to more over $240 million. Now that Biden has stepped down, the issue of how these monies will be used is not without troubles. Experts believe Harris, given her position and Biden’s backing, is well-positioned to draw into these resources. Kenneth Gross, a former associate general counsel for the Federal Election Commission, says that the monies were raised for the Biden-Harris ticket, providing Harris largely unrestricted access.
However, the transfer of cash is not without significant legal ramifications. Republicans are expected to dispute any significant financial activities till Harris is formally nominated, which may lead to a lengthy court battle.
Despite the financial and legal complexities, Biden’s backing of Harris is unmistakably clear – and critical. His endorsement is more than simply a nod of appreciation; it is a political gesture intended to strengthen her candidacy and unite the party. “I am honored to have the President’s endorsement, and my intention is to earn and win this nomination.” It’s a statement that encapsulates the essence of a campaign poised to rise to the occasion.
