Democratic Donors Embrace Kamala Harris as Biden Withdraws from 2024 Race

In a surprising turn of events, President Joe Biden has announced his withdrawal from the 2024 presidential race, paving the way for Vice President Kamala Harris to become the Democratic Party's standard-bearer. This decision has sent shockwaves through the political landscape, with Democratic donors and fundraisers rallying behind Harris and expressing their enthusiasm for the new direction of the party.

Donors Eager to Back Harris as the New Democratic Frontrunner

Surge of Enthusiasm and Renewed Commitment

Democratic donors and fundraisers have been quick to voice their support for Kamala Harris following Biden's withdrawal. Alan Kessler, a Philadelphia lawyer and longtime Democratic fundraiser, has reported a flurry of text messages and emails from major contributors expressing their excitement about the prospect of Harris leading the party. One donor's message summed up the prevailing sentiment, describing the development as "transformative."Matt Gorman, another seasoned Democratic fundraiser, has also noted a significant uptick in activity, with his "phone ringing off the hook" as donors seek to channel their support towards Harris and the party's new direction. Gorman, who deeply respects Biden, feels it is now "incumbent" upon him and others to rally behind Harris and ensure her success.

Renewed Fundraising Efforts and Small-Dollar Donations

The enthusiasm for Harris has translated into tangible financial support, with small-dollar donors contributing more than .5 million to her campaign in the first five hours after Biden's announcement, according to the online fundraising platform ActBlue. This influx of grassroots funding underscores the excitement and energy surrounding Harris's candidacy.However, the Biden-Harris campaign and its affiliated committees had previously outspent former President Donald Trump's political operation in June, drawing down their reserves. This, coupled with concerns about Biden's performance in the June 27 debate, had raised questions about the campaign's future financial viability. Now, with the transition to the "Harris for President" committee, the party's donors are rallying to ensure that Harris has the necessary resources to mount a successful campaign.

Overcoming the "DEMBARGO" and Uniting Behind Harris

The shift in donor sentiment is particularly notable given the "DEMBARGO" – a self-imposed embargo on contributions to the Biden campaign by some Democratic donors who were alarmed by the president's performance in the June 27 debate. These donors had vowed to withhold their support until Biden agreed to withdraw from the race.Now, with Biden's announcement, the "DEMBARGO" has been lifted, and these donors are expressing a renewed sense of enthusiasm and commitment to the party's new direction. Damon Lindelof, a Hollywood screenwriter and producer who had been among the contributors calling for the embargo, has expressed "profound relief, gratitude ... and then for the first time, genuine EXCITEMENT for the election ahead."Similarly, another major donor has indicated that there will be a "massive surge of new energy" around Harris, as the focus shifts back to the primary objective of defeating Donald Trump in the upcoming election.

Divergent Perspectives and Concerns

While the majority of Democratic donors appear to be rallying behind Harris, not everyone is entirely convinced. Florida lawyer John Morgan, an ardent Biden supporter and fundraiser, has expressed reservations about Harris's candidacy, stating that he no longer plans to raise money for the White House effort. Morgan believes that Harris may not be the strongest candidate the party could field, and he is concerned that she will be quickly cast as a "California progressive" who has mishandled the issue of illegal immigration.Morgan had previously planned a fundraiser for the Biden campaign in Florida, but those plans had been put on hold due to the turmoil following the June 27 debate. Now, with Biden's withdrawal, Morgan says he will not raise any further funds, though he still plans to vote for Harris.

The Path Forward and the Importance of Unity

Despite the occasional dissenting voice, the overwhelming sentiment among Democratic donors and fundraisers appears to be one of renewed energy and commitment to the party's new direction under Kamala Harris. As the party's standard-bearer, Harris will need to harness this enthusiasm and financial support to mount a formidable campaign against the Republican nominee, widely expected to be former President Donald Trump.The transition from the Biden-Harris campaign to the "Harris for President" committee marks a significant moment in the party's history, and the success of this endeavor will depend on the ability of Democratic donors and supporters to coalesce around a shared vision and a common goal of defeating Trump. With the "DEMBARGO" lifted and a surge of new energy and resources, the party's path forward appears to be one of renewed optimism and determination.