United States – Harris also said that during July, the campaign collected USD 310 million, with the support of small donors after Biden decided to withdraw his candidacy and support Harris for the presidency.
Record-Breaking Fundraising Figures
The July figure was more than two and a half times the USD 138.7 million by rival GOP candidate Donald Trump in the same period —amounts to more than USD 1 billion raised by Harris and Biden before her, marking the quickest pace of raising such a sum in the course of a presidential campaign in history, according to Harris and Biden’s campaign headquarters, as reported by Reuters.
July was to be bad for the democrats; big donors refusing to pony up cash as a way of prising Biden out of the race, but the election of Harris presaged a revival in the party’s fortunes at the presidential level.
Revival of Democratic Fortunes
Campaign officials said that USD 200 million out of the total USD 310 million was received in the week of Biden endorsing Harris.
Of the funds received in July, two-thirds of the donations were from first-time donors, while 94% of the donations for the month were below USD 200, according to the campaign.
“This is a history-making haul for a candidate who will make history this November. 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,” said Harris for President Campaign Manager Julie Chavez Rodriguez.
Campaign Finances
The Harris campaign reported USD 377 million in available cash by the end of the month, while the Trump campaign had USD 327 million.
Thus, Trump’s fundraising for July was 24% higher than USD 111.8 million, which was what the campaign said it raised in June.
Impact of Recent Events on Fundraising
The actual attempt to assasinate Trump on the 13th of July at a rally in Butler, Pennsylvania was predicted to elicit more monetary support for the former president’s campaign. But Trump’s fundraising rose earlier, in late May when he was convicted of felony charges over a hush money payment pornographic film star before the 2016 election, as reported by Reuters.
Surveys revealed that Trump was ahead of Biden in some polls, especially in the swing states, after Biden’s poor performance during the debate on June 27. However, Harris changed the course, with the latest polls showing a tight race.