After President Biden announced his withdrawal from the presidential race, Democrats responded with a surge of financial support, raising over $30 million in online donations on Sunday.
According to the New York Times, This marked the largest single day of online Democratic contributions since the 2020 election, with more donations coming in as the day progressed. According to a New York Times analysis of ActBlue’s online contribution tracker, the significant increase in donations was observed following President Biden’s exit from the race and Vice President Kamala Harris gaining momentum in the nomination race.
Prior to Biden’s withdrawal, donations were averaging less than $200,000 per hour, but after his announcement, donations surged to $7.5 million in just one hour on Sunday, according to the report.
The ActBlue donation tracker includes contributions made to various Democratic candidates, not limited to President Biden or Vice President Harris. It also encompasses donations to Democratic House and Senate candidates, as well as political nonprofits.
“This might be the greatest fundraising moment in Democratic Party history,” Kenneth Pennington, a Democratic digital strategist wrote on X.
The largest single day for donations on ActBlue prior to this recent surge occurred the day after Justice Ruth Bader Ginsburg’s passing in September 2020, with approximately $73.5 million processed. This marked one of only two days when the platform exceeded $50 million in donations.
The recent influx of donations is noteworthy as the Democratic Party aims to bounce back from a period of internal conflicts and stagnant progress in the race against former President Donald J. Trump. Fundraising among major Democratic donors had significantly slowed in the weeks following President Biden’s lackluster debate performance.