Biden’s death brings record revenue. Democrats are seeking new sponsors

President Joe Biden’s withdrawal from the reelection race has transformed the Democratic Party’s campaign finance capabilities, with her lead contributor reporting that Sunday was the most successful day in that regard in the current election cycle.

Meanwhile, US media reported that funds previously raised for Biden’s campaign were already under the control of his vice president and possible Democratic candidate Kamala Harris.

ActBlue, an intermediary platform for Democratic donations, announced that the Democratic Party raised nearly $50 million after Biden resigned. X said on social networks: “Small donors are motivated and ready to participate in this election.”

New donors are stepping up

Biden has struggled in recent weeks with his choice of post after he performed poorly in televised debates with Republican rival Donald Trump. Many major Democratic donors subsequently called on Biden to end his campaign, with some even announcing a freeze on donations until he does so.

Hours after Biden announced on Sunday that he would not run and endorsed Harris for president, some donors have come out in support of the vice president. The rare statement came from Karla Jurvetson, who has donated more than $40 million to the Democratic Party in recent years, according to The New York Times.

The American doctor and philanthropist, considered one of the biggest donors to the Democratic Party, said: “Between now and Election Day I will be working to get Harris elected.”

Harris for President

Biden’s campaign is now officially named after the vice president, who immediately received funds for his re-election, according to US media reports. Biden’s staff reported at the end of June that it had $95 million in available funds.

Harris was part of Biden’s accounting for his reelection as vice presidential candidate, so moving the money under her control could be “straightforward from a legal perspective,” The New York Times reported.

Federal Election Commission (FEC) Commissioner Dara Lindenbaum said that because Harris was listed in the Biden-Harris campaign registration documents, the previous donations belonged to her. “From my perspective, it’s a closed matter,” she said.

The vice president is also in charge of directing a massive election operation, and she is committed to serving 1,300 staffers and dozens of offices across the U.S. According to the New York Times, Biden campaign managers Len O’Malley Dillon and Julia Chavez Rodriguez informed staffers on Sunday that they are now working for the “Harris for President” staff.