Money is pouring in for the new Kamala Harris presidential campaign. Within 24 hours of President Joe Biden’s decision to drop out of the 2024 presidential race and endorse Harris, more than $81 million flowed in from big and small donors, according to Harris’s campaign.

It is the largest sum raised and reported in a single day for either Democrats or Republicans. To compare, former President Donald Trump’s campaign reported bringing in about $53 million in the first 24 hours after he was convicted on 34 felony counts — a fundraising record on the WinRed platform for Republican donors. 

The donations for Harris speak to an under-tapped source. Women’s voices are underrepresented as donors in American politics, reducing their political influence, according to research conducted at Rutgers University’s Center for American Women and Politics (CAWP). Overall, they are more likely to support a Democratic candidate — or at least less likely to support a Republican candidate — than men are. When they do give, women donate disproportionately to women, a trend that can be seen for both parties. 

Kira Sanbonmatsu, a political science professor and senior scholar at CAWP, said Harris is re-energizing the Democratic Party and inspiring first-time donors, particularly women. According to the Harris campaign, more than 888,000 donors contributed in that first 24-hour span, and 60 percent of them were contributing in the 2024 election cycle for the first time.

“If she is successful in winning the nomination, Kamala Harris has the possibility of mobilizing new donors,” said Sanbonmatsu, who investigates the gender gap in political fundraising. “This has been an area where women have been underrepresented historically as donors, so she has the potential to help close the gender gap in who is contributing to campaigns.” 

The 19th spoke with Sanbonmatsu and Debbie Walsh, the director of CAWP, about the record amount of donations; why the boost in fundraising is significant for the Democratic Party; and how women donors could mobilize behind Harris to help her become the country’s first woman president.  

These interviews have been edited for length and clarity. 

Mariel Padilla: What do you think this record-breaking fundraising says about the future of the Harris campaign?

Debbie Walsh: Unless something really unforeseen happens, she would be the Democratic nominee in this race. She brings an energy and a mobilizing force that really wasn’t there before — the race felt kind of moribund. She sparks excitement among women, among women of color, particularly Black women — a critical base within the Democratic Party that I don’t think was going to vote for Donald Trump but might not have had as high a turnout with Biden on the ticket.

Kira Sanbonmatsu: Small contributions have become increasingly important, and I think this wave of donations means the enthusiasm gap between the two parties is narrowing. There is momentum now that the Democratic Party has lacked in the past few weeks. People will invest when they see hope of a competitive election, and this change — with Biden dropping out — will make more opportunities for successful fundraising by the Democrats up and down the ballot.

Why do you think this is a particularly galvanizing moment for Harris?

Sanbonmatsu: This is the first presidential election since the Supreme Court issued its ruling in Dobbs v. Jackson, taking away the constitutional right to abortion. Harris has been a leading voice against the Republican Party’s position on abortion, and this is an issue that for the past several years has mobilized women in the base of the Democratic Party. She can tap into that energy.

Walsh: Harris is more passionate, authentic, clear and strong on this issue in ways that Joe Biden couldn’t and didn’t — making her probably the most effective national spokesperson on the political stage for reproductive rights. 

Walsh: Harris has an opportunity now to reintroduce herself to the American public. I think she brings an energy to a new generation of leadership, in contrast to both Joe Biden and also Donald Trump. She has the potential to unify the Democratic side and sway some of those moderate Republican voters who don’t want to vote for Trump but didn’t feel motivated by Biden. And thinking through the timing, maybe it’s actually a relief to not have a long 18-month campaign. 

Tell us more about the significance of these fundraising numbers. 

Walsh: In general, the money is what allows campaigns to do the advertising, voter mobilization and get-out-the-vote efforts. It pays for staff and infrastructure. It’s critical, but the dollar amounts on these campaigns have grown exponentially. Reported donations grease the wheels of a campaign and become an indicator of strength because it signifies energy for the campaign and enthusiasm for the candidate. We know that women candidates are less likely to self finance, and we know that women candidates are more dependent on small donations under $200. We also know that those small donations are where women are giving in large part. 

Sanbonmatsu: We often think about participation as voting, which is an important form of participation in democracy, of course. But political contributions are also vital. 

What are some inequities you see in campaign financing, and how might Harris redefine what American politics looks like? 

Walsh: Black women have suffered because of the “conventional wisdom of politics” that they can’t raise money at the rate that they need to be viable candidates. It becomes a terrible catch-22, because if the conventional wisdom about you as a candidate is that you can’t raise the money, then people don’t give you the money, which means you can’t raise the money, which means you become not viable, which means people don’t give you more money. The donations to the Harris campaign is such a strong signal that a Black woman at the top of the ticket can raise money — it helps dispel that myth. 

Sanbonmatsu: Historically, this is an area where women have lagged men and there are implications: who runs, who wins, whose voices are heard in elections and in government. 

Walsh: There hasn’t been great polling yet, but anecdotally there is evidence that Black women are organizing. Win With Black Black Women had a call with thousands and thousands logging on. Still there are challenges — this is all an equation of addition and subtraction. What does this do to some of those White working class voters who supported Joe Biden? Will they support a woman? Will they support a Black and biracial woman? It’s all weighing out these different pieces, but I do think she brings a lot to the campaign.