Vice President Kamala Harris raised $47 million in 24 hours after her debate with Donald Trump, a significant increase from her previous fundraising totals.
The funds came from 600,000 individual donors, adding to her already substantial financial advantage over Trump, who entered September with a notably smaller cash reserve.
The Harris campaign revealed that her campaign had $404 million cash on hand, compared to Trump’s $295 million.
Harris’s team nearly tripled Trump’s fundraising efforts in August, underscoring her strong financial position as the campaign progresses. Presidential debates often turn into major fundraising events due to their large audiences.
Tuesday’s debate drew 67 million live viewers, not including those who watched via websites and streaming platforms. Ms. Harris was seen as the standout performer, with a surge in donations reflecting Democratic enthusiasm.
In contrast, the Trump campaign has yet to release comparable fundraising numbers post-debate. Some major Trump donors have expressed concerns about his performance potentially impacting high-dollar fundraising efforts.
The largest 24-hour total announced by his campaign was after his felony conviction in May, when he raised nearly $53 million online. On the same day, reclusive banking heir Timothy Mellon donated $50 million to a pro-Trump super PAC.
There is some apprehension within the Harris campaign that the significant fundraising advantage reported in July and August might dampen smaller donor contributions this fall. “We cannot let up,” campaign chair Jen O’Malley Dillon wrote in a memo to the national finance committee over the weekend.
O’Malley Dillon urged members to maximize fundraising efforts before the debate. Although the Harris campaign has a financial edge, she noted that their strategy requires a broad electoral map, which is costly.
Trump’s advisers believe the most efficient path to the White House involves securing North Carolina while regaining Pennsylvania and Georgia—key battlegrounds won by President Biden in 2020. “Trump is all in on one to two ‘must win’ states,” O’Malley Dillon wrote. “We don’t have that luxury.”
The Harris campaign and its allies are expected to outspend their Republican counterparts on television and radio by about $130 million in the final six weeks of the race, according to AdImpact.
However, several Republican groups rely heavily on individual donors like Mellon and billionaire philanthropist Miriam Adelson, meaning Republicans could quickly become competitive with a large donation.
Democratic outside groups are also anticipated to report and spend significant sums as the tightly contested race approaches its final stretch.
Harris’s campaign is confident in their financial position but remains cautious, recognizing the importance of continued fundraising efforts.
As the campaign progresses, it is clear that fundraising will play a crucial role in determining the outcome of the election.
