More than $500 million raised in just one month. This is the huge amount of money that Democratic candidate Kamala Harris has raised since launching her presidential campaign at the end of July. Harris' campaign manager, Jen O'Malley Dillon, said on August 26: "A record for any campaign in history," but did not specify the time period for the comparison. According to ladepeche.fr, becoming the Democratic candidate for president in November after incumbent President Joe Biden announced his withdrawal from the race, Harris raised more than $81 million in just 24 hours. This financial "windfall" is considered impressive. Previously, the 2020 presidential election broke all records with the total amount of money raised by all candidates combined being more than $10 billion. Meanwhile, Ms. Harris and Republican candidate Donald Trump ended July 2024 with campaign funds of $220 million and $151 million, respectively.
US Election 2024: Why fundraising doesn't determine victory?
Kamala Harris with supporters in Savannah, Georgia (USA), August 29, 2024. Photo: REUTERS
The Importance of Super PACs US presidential campaigns have always been a race to raise the most money. “Since the Supreme Court ruling in the 2010s, there has been no limit on campaign spending,” said Romuald Sciora, a researcher at the French Institute for International and Strategic Relations (IRIS) and director of the Observatory for Political and Geostrategic Affairs of the States of America. “This change has allowed the emergence of Super PACs, entities with unlimited fundraising capacity to indirectly support a candidate. Super PACs have become an indispensable tool for large donors, allowing them to circumvent restrictions to donate directly to campaigns.” In fact, each citizen can contribute up to $63,000 per year through direct donations to a campaign or party. However, Super PACs can create much larger contribution opportunities. “We can have billions of dollars,” researcher Romuald Sciora pointed out. “Since the financial resources are not directly related to the election campaign, anything can happen. That means we can fund advertisements against the opposition candidate,” Romuald Sciora emphasized. More money is an advantage but not decisive . In the US election campaign, money is important, especially to ensure media coverage. “In the US, there are no regulations on images or speaking time. Since 99% of TV channels in the US are private, money is needed to be more famous, to speak more on the set,” Romuald Sciora affirmed. However, a financial war has little impact on the ballot box. "The amount of money between the two candidates is usually equal or close to equal. Having more money is an advantage but it is not decisive. We have seen candidates who raised less money than their opponents and won the election," said researcher Romuald Sciora. Because the Democrats and Republicans have a monopoly on money, Super PACs have extinguished any hope of a third party winning the election, said Romuald Sciora. "Big donors tend to prioritize the candidate with the best chance of winning. Small candidates cannot afford a media campaign, which makes them invisible in the national media and therefore has a very small chance of winning," explained Romuald Sciora.

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