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In July, Kamala Harris outstripped Donald Trump in fundraising by four times, as individual donations flooded into her campaign following her selection as Joe Biden’s running mate.
Last month, her campaign raked in $204 million, while Trump’s campaign only managed $48 million, according to a Financial Times analysis. Harris ended July with $220 million in cash on hand, compared to Trump’s $151 million.
This massive influx of funds for Harris signifies a surge of support for the new Democratic candidate. It suggests that she may have closed the fundraising gap that Trump had previously opened over Biden, though a complete picture will emerge once more data is released next month.
Furthermore, Harris’s campaign set a new record for single-day small donations, with 631,000 contributions pouring in on July 22, her first day after being named Biden’s running mate. This number surpassed the approximately 450,000 donations received by Trump-related groups after his conviction in the New York hush money trial in May.
Longtime California Democratic strategist Bob Mulholland commented, “The money that’s coming in — I have never seen that kind of money.”
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The FT analysis focused on small-dollar donations to affiliated campaign groups. Data for the full third quarter including super PACs with no donation limits will be available in October. In July, Trump’s Make America Great Again Inc raised $55 million, while Harris’s Future Forward brought in around $30 million.
Despite Biden’s strong grassroots fundraising, Trump’s super PACs outraised him in the second quarter. However, Harris’s support from small donors has been remarkable, surpassing Biden’s previous grassroots fundraising achievements.
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Biden’s decision to withdraw from the race in July followed a lackluster debate performance against Trump, prompting concerns about his age and ability to run for the presidency.
Harris, set to accept the nomination soon, represents a significant milestone in American politics as a potential first woman president of color.
Despite the excitement surrounding Harris’s candidacy, Democratic leaders cautioned that the election remains a tight race in a closely divided country.
With donations pouring into both campaigns, the 2020 presidential race is expected to be the most expensive ever.
