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Kamala Harris raises record funds for 2024 election campaign
(MENAFN) In a significant development for the upcoming U.S. presidential election, Kamala Harris's campaign team announced that it raised an impressive USD310 million in July, more than doubling the amount garnered by Donald Trump's campaign. This surge in funding came after Harris replaced Joe Biden as the Democratic nominee for the November election. The change in candidacy, announced on July 21, reinvigorated donors who had previously withdrawn support due to concerns about Biden's advanced age and its repercussions on his presidency. Harris's campaign highlighted that the record-breaking amount was achieved partly through the most successful month of small-donor fundraising in the history of U.S. presidential elections, marking a significant milestone.
While fundraising is a crucial aspect of American political campaigns, the Democratic candidate's ability to amass USD200 million in less than a week following Biden's withdrawal underscored the renewed enthusiasm within the party. Harris's campaign described the USD310 million total as the largest amount raised in any month for the 2024 election cycle. This substantial financial boost places Harris in a strong position as she prepares to secure the official nomination from her party in early August. On the other hand, the Trump campaign, despite raising a notable USD138.7 million in July, was overshadowed by Harris's fundraising achievements. The Republican nominee's campaign acknowledged the significance of the funds raised, particularly in a month marked by an assassination attempt on Trump and the energizing effects of the Republican convention.
The massive sums raised in U.S. presidential election campaigns are primarily allocated to extensive promotional efforts, including video clips showcasing candidates' accomplishments and promises. These materials are widely disseminated on the Internet and television in the months leading up to the election. According to Open Secrets, a non-governmental organization specializing in political finance, the 2024 elections are on track to be the most expensive in U.S. history, potentially surpassing the USD5.7 billion spent during the 2020 elections. For context, campaign spending in the second round of the French presidential election is limited to 22.5 million euros per candidate.
Joe Biden's decision to withdraw from the presidential race at the age of 81, driven by voter concerns and pressure from officials regarding his physical and mental capabilities, has significantly impacted the Democratic camp. The withdrawal has generated new momentum for the party, though political observers caution against excessive optimism. Despite the narrowed gap, Donald Trump continues to lead in the polls, indicating a competitive race ahead. The evolving dynamics and substantial financial backing highlight the intense nature of the upcoming 2024 presidential election, setting the stage for a historic and fiercely contested battle for the White House.
While fundraising is a crucial aspect of American political campaigns, the Democratic candidate's ability to amass USD200 million in less than a week following Biden's withdrawal underscored the renewed enthusiasm within the party. Harris's campaign described the USD310 million total as the largest amount raised in any month for the 2024 election cycle. This substantial financial boost places Harris in a strong position as she prepares to secure the official nomination from her party in early August. On the other hand, the Trump campaign, despite raising a notable USD138.7 million in July, was overshadowed by Harris's fundraising achievements. The Republican nominee's campaign acknowledged the significance of the funds raised, particularly in a month marked by an assassination attempt on Trump and the energizing effects of the Republican convention.
The massive sums raised in U.S. presidential election campaigns are primarily allocated to extensive promotional efforts, including video clips showcasing candidates' accomplishments and promises. These materials are widely disseminated on the Internet and television in the months leading up to the election. According to Open Secrets, a non-governmental organization specializing in political finance, the 2024 elections are on track to be the most expensive in U.S. history, potentially surpassing the USD5.7 billion spent during the 2020 elections. For context, campaign spending in the second round of the French presidential election is limited to 22.5 million euros per candidate.
Joe Biden's decision to withdraw from the presidential race at the age of 81, driven by voter concerns and pressure from officials regarding his physical and mental capabilities, has significantly impacted the Democratic camp. The withdrawal has generated new momentum for the party, though political observers caution against excessive optimism. Despite the narrowed gap, Donald Trump continues to lead in the polls, indicating a competitive race ahead. The evolving dynamics and substantial financial backing highlight the intense nature of the upcoming 2024 presidential election, setting the stage for a historic and fiercely contested battle for the White House.
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