The high-stakes presidential race between Vice President Kamala Harris and former President Donald Trump has amassed $2.5 billion in campaign donations.
This immense fundraising effort, involving candidate committees, PACs, and super PACs, is a sign of the election’s significance, but falls slightly short of 2020’s record-breaking $2.71 billion, the New York Post reported.
Harris, who became the Democratic candidate following President Biden’s ouster by party influencers this summer, has raised an impressive $1.39 billion, with Trump’s campaign close behind at $1.09 billion.
With large contributions from their parties, Harris and Trump each have garnered additional support through their respective national committees.
The Democratic National Committee has brought in $484 million to support Harris, surpassing the Republican National Committee’s $368 million.
Individual donors are also making their mark, with more than half of Trump’s funds—around $613 million—coming from individuals rather than outside spending, suggesting widespread grassroots support.
Harris’s record-breaking third-quarter fundraising reached $1 billion, a feat underscored by significant outside contributions from groups like Future Forward USA and American Bridge 21st Century.
Major PACs supporting Trump include Make America Great Again Inc. and Preserve America, along with America PAC, backed by billionaire Elon Musk. Both campaigns are spending millions on digital and television ads, averaging $134.94 and $82.76 per second, respectively.
Analysts point to factors like abortion rights, divisive social policies, and Trump’s legal battles as motivators for voter and donor engagement.
This election is also the most expensive overall in U.S. history, with an estimated $15.9 billion projected across all races, from presidential to congressional, reflecting growing financial investments in American politics.
Despite the escalating financial landscape, some caution that campaign cash has its limits.
Americans for Public Trust executive director Caitlin Sutherland noted, “It doesn’t matter how much campaign money you have if you have a bad candidate.”
This unprecedented fundraising landscape underscores the heightened stakes and deep divides fueling voter turnout and donations across the country.
This article was written with assistance from artificial intelligence.