Kamala Harris has significantly boosted Democratic fundraising after becoming the party’s presidential nominee, according to new federal filings. This surge in fundraising has helped to close the cash advantage previously held by Republican nominee Donald Trump. In contrast, independent presidential candidate Robert F. Kennedy Jr. is facing diminishing campaign resources and considering the possibility of exiting the race and endorsing Trump.
Prominent outside groups funded by top donors saw a surge in donations amid the changes in the presidential race, with millions being spent on reenergized advertising campaigns. Harris reported about $220 million in cash on hand at the end of July, a substantial increase from the previous month. In comparison, Trump’s campaign reported $151 million in cash on hand at the end of July. Harris also raised a record-breaking $310 million in July, with expectations to surpass $500 million soon. Trump’s campaign, on the other hand, raised $139 million in the same month.
Both Harris and Trump raise funds through joint fundraising committees, which distribute proceeds among various entities. In July, Harris directly raised $204.5 million for her campaign, while Trump raised $47.5 million. Harris outspent Trump by a significant margin in July, with her campaign spending $81 million compared to Trump’s $24 million. Both national party committees also reported substantial fundraising numbers, with the Republican National Committee maintaining a cash advantage over the Democratic National Committee.
Major donors from both parties contributed heavily to prominent outside groups in July, which spent significant amounts to influence the presidential race. FF PAC, the main super PAC supporting Harris, raised nearly $30 million in July and spent more than $27 million on independent expenditures. MAGA Inc., a leading pro-Trump super PAC, raised nearly $55 million and spent over $43 million on independent expenditures aimed at boosting Trump. These outside groups played a crucial role in shaping the early weeks of the changed general election race.
Data from ad tracking firm AdImpact shows the significant impact of outside groups in the presidential race, with more than $180 million being spent on ads in the weeks following Biden’s withdrawal from the race. Democratic groups, led by FF PAC, have future ad reservations totaling over $278 million, while Republicans have nearly $140 million booked. This suggests that outside groups will continue to play a decisive role in the final months of the campaign, with record-breaking spending projected.
The latest FEC filings also raise questions about the future of Robert F. Kennedy Jr.’s independent presidential campaign. Kennedy’s campaign reported limited resources in July, with only $3.9 million on hand and significant debts. His running mate, Nicole Shanahan, suggested on a podcast that the campaign may consider dropping out and endorsing Trump. With challenges in securing ballot access in various states and a reshaped electoral landscape due to Harris’ nomination, Kennedy’s campaign faces an uncertain future.
