The enthusiasm that has surrounded Kamala Harris since she replaced Joe Biden as the Democratic Party’s candidate for president has infected donors. The Democrat’s campaign raised $361 million in August, smashing all records in the history of US presidential elections, according to figures from the Harris campaign. That number is almost triple the $130 million raised by Donald Trump in August, and wipes out his advantage in cash on hand. It is now Harris who has $109 million more cash on hand, although the official campaign picture is only part of a larger landscape.
Harris already broke a record when she raised $81 million in the first 24 hours after being named as her party’s nominee. August was the first full month with Harris at the helm of the campaign. That same month, the Democratic National Convention was held in Chicago, a high-profile event that the campaign used to intensify its fundraising efforts.
Since she took over from Joe Biden, Harris has raised $615 million. The candidate benefited from the fact that many large Democratic donors had cut off or withheld donations to Joe Biden, partly as a way of pressing him to stand aside and partly because they saw the donations as a waste of money, as they did not believe that the president had any chance of being re-elected against Trump after his disastrous debate in Atlanta on June 27. With Harris leading the ticket, the money came flowing back towards the party, this time in huge gushes.
In August, the Harris campaign received donations from nearly three million people. Of this figure, 1.3 million were making their first donation of this election. Of these first-time donors, three-quarters had not contributed to the last presidential election either. Ninety-five percent of all August donations were for less than $200,000, and teachers and nurses continue to be among the top professions for donors. More than 60% of all donors in August were women, and nearly one-fifth of donors were registered Republicans or independents.
“In just a short time, Vice President Harris’ candidacy has galvanized a history-making, broad, and diverse coalition – with the type of enthusiasm, energy, and grit that wins close elections,” Harris campaign manager Julie Chavez Rodriguez said in a statement. “As we enter the final stretch of this election, we’re making sure every hard-earned dollar goes to winning over the voters who will decide this election.”
$404 million in cash on hand
The campaign for Kamala Harris and Tim Walz, her vice presidential candidate, ended August with $404 million in cash on hand. That’s $109 million more than what Trump’s has in his coffers. However, super PACs — political action committees that have no caps on donations — make it difficult to get a clear picture of the candidates’ financial position.
Trump has the support of numerous billionaires who are willing to put their money where their mouths are. The Harris campaign has pointed out that two billionaires have covered more than $150 million in spending for Trump in just six weeks. MAGA Inc. — a super PAC funded largely by a $125 million donation from billionaire Tim Mellon — has spent nearly $100 million on ads and direct mail operations since late July. Meanwhile, Preserve America has spent $54 million. This PAC is funded by Miriam Adelson, who has pledged to spend more than $100 million to support Trump.
The Trump campaign claims that 98% of August donations were less than $200. Of the $130 million raised last month, the average donation was $56, meaning that there were just over 2.3 million contributions. The Trump campaign ended August with $295 million in cash on hand.
“With Republicans united and a growing number of Independents and disaffected Democrats crossing partisan lines, the Trump-Vance campaign has momentum for the final stretch of the race,” Trump campaign Senior Advisor Brian Hughes said in a statement. “These fundraising numbers from August are a reflection of that movement and will propel President Trump’s America First movement back to the White House so we can undo the terrible failures of Harris and Biden,” he added.
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