Trump Vs Harris Fundraising Race: Harris Raises $540 Million Since Biden Stepped Aside – Campaign Team
Vice President Kamala Harris’ entrance into the presidential election last month has blown up her fundraising race with former President Donald Trump, with the combined Biden and Harris campaigns raising more than four times as much as Trump in July and erasing the ex-president’s cash advantage—and Democrats say pro-Harris groups have raised over $500 million since Joe Biden left the race.
The Biden—now Harris—campaign committee raised $516.8 million and Trump’s campaign committee raised $268.5 million in total between January 2023 and July 31, 2024, the most recent date for which Federal Election Commission filings are available.
Harris also ended July with far more cash on hand than Trump—with $219.7 million to Trump’s $151.3 million—erasing a previous cash advantage the Trump campaign had at the end of June, before President Joe Biden dropped out of the race.
The Harris campaign raised $204.5 million in July alone, while the Trump campaign raised $47.5 million, shaking up what was previously a more evenly-matched cash race (Biden and Trump had raised $284.1 million and $217.2 million in total as of the end of June, respectively) as Harris entered the race on July 21 and quickly posted huge fundraising numbers, with her campaign reporting $81 million in donations in the first 24 hours of her campaign.
The fundraising surge reportedly continued into August: On Aug. 25, the campaign said Harris For President and allied groups had raised a combined $540 million since Biden dropped out, including some $82 million during the Democratic National Convention (those fundraising totals won’t be verified until official August data is released next month).
Harris announcing Minnesota Gov. Tim Walz as her vice presidential nominee has also fueled fundraising, with the campaign reporting it raised $36 million in the 24 hours after the running mate was announced.
Biden’s campaign committee was renamed for Harris when he dropped out and endorsed her, and though Trump has challenged that with the FEC, his challenge isn’t expected to impact the election.
Many top donors also bankroll independent political groups like super PACs, which aren’t beholden to the FEC’s $6,600-per-person limit for direct campaign donations—which is where Trump still holds an advantage, at least for now.
FEC filings through Aug. 21 show super PACs have spent approximately $64.5 million supporting Harris since the beginning of July, while PACs have spent approximately $38.9 million supporting Trump during that same period.
The top 10 super PACs supporting Trump have collectively raised approximately $305.6 million since the beginning of the year, however, compared with $199.2 million raised by the top 10 PACs supporting Harris—though she may be able to narrow that gap in the weeks ahead.
Source: FORBES
