Democratic Party raises nearly $50 million in donations after Kamala Harris' campaign launch

Following Joe Biden's withdrawal from the presidential race and the entry of Kamala Harris into the race, Democratic donors have gone on a rampage and given $46.7 million to the party, setting a daily fundraising record in 2024.

"As of 9pm ET, grassroots supporters have raised $46.7 million through ActBlue following Vice President Kamala Harris’ campaign launch. This has been the biggest fundraising day of the 2024 cycle. Small-dollar donors are fired up and ready to take on this election," said ActBlue, a group that tracks donations received by the Democratic Party.

Harris will be able to use the cash raised by Biden

On the other hand, the new Democratic candidate will be able to count on all the cash that the Biden-Harris campaign managed to raise.

"There are Democratic Party rules in place to govern the process of selecting a new nominee. There are also rules established by the Federal Election Commission that apply to the funds currently held by the Biden-Harris campaign," reported Trevor Potter, president of the Campaign Legal Center (CLC). "The application of those FEC rules depends in part on who becomes the Democratic nominee for president. Specifically, because Biden and Harris share a campaign committee, the Vice President and her running mate can continue using the campaign’s existing funds for the general election if she is on the Democratic ticket as either the presidential or vice-presidential nominee."