Kamala Harris Inherits Biden's Campaign Funds, Raises $50M in Grassroots Donations

President Joe Biden has endorsed Vice President Kamala Harris as his replacement after announcing he will not seek re-election in 2024. This shocked the nation, and now attention turns to Harris' campaign funds.

Harris Inherits Biden's War Chest

The Biden-Harris campaign amended filings with the FEC, renaming to "Harris for President." [1] This allows Harris to inherit Biden's funds. [1][2] An official letter to the commission confirms: [3]

"Vice President Harris is now a candidate for U.S. President in 2024 and will conduct campaign activities in pursuit of that office." [3]

The campaign had $127 million in June [4], and $240 million on hand. [4] This is backed by federal law: [5]

“Campaign depository... for that political party's candidate for President... shall be the depository for the Vice President." [5]

However, there are doubts. [6] This situation is unprecedented, leaving a "gray area" [6] in the law. Dan Weiner of the Brennan Center for Justice cautions: [6]

"It's not crystal clear... I'm not sure drafters anticipated this." [6]

Grassroots Donors Flock to Harris Campaign

Since Biden's exit, the "Harris for President" campaign received $49.6 million in grassroots donations. [7] A spokesperson said [7]:

"Everyday Americans have stepped up... since the President endorsed VP Harris yesterday." [7]

This adds to Biden's June haul of $127 million, his biggest monthly raise. [8] This included a Hollywood fundraiser with Obama, raising $30 million. [8] Biden outraised Trump for the first time since March. [8]

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[1] https://docquery.fec.gov/cgi-bin/forms/C00703975/1805326//

[2] https://campaignlegal.org/press-releases/clcs-trevor-potter-fec-rules-guiding-campaign-funds-when-nominee-withdraws

[3] https://docquery.fec.gov/cgi-bin/forms/C00703975/1805326//

[4] https://docquery.fec.gov/cgi-bin/forms/C00703975/1805326//

[5] https://www.ecfr.gov/current/title-11/chapter-I/subchapter-A/part-103/section-103.4

[6] Dan Weiner, Brennan Center for Justice.

[7] https://www.yahoo.com/news/kamala-harris-raises-nearly-50-095255596.html#:~:text=leaving%20the%20page.,for%20Biden%20said%20on%20Monday.

[8] Internal numbers from the Biden campaign.