The Democratic Party’s Money Machine

A political piggy bank

The Democratic National Convention starts on Monday in Chicago, capping an extraordinary few weeks since Vice President Kamala Harris became the party’s presidential candidate.

In that time, she has generated momentum and enthusiasm among voters. Some longtime political observers, like the Republican pollster Frank Luntz, are calling it unprecedented.

Just one indicator: Last month, Harris’s campaign said it had raised $310 million, including $200 million in the seven days after President Biden dropped out.

As Democrats gather in the United Center, one focus will be on the Democratic National Committee, the organizational backbone that coordinates the party’s electoral strategy, management and convention. Much of that involves money, and the committee raises millions that it disburses to fight in federal and state elections.

DealBook dug into the numbers and spoke to experts to understand where the committee fits into the wider world of campaign finance and to show how its role has evolved.

The first Democratic Party convention was in 1832. Sixteen years later, at their convention in Baltimore, party leaders established the Democratic National Committee. In 1856, the Republicans did the same, paving the way for the Republican-Democratic juggernaut that has dominated American politics ever since.