Political Update: Harris Consolidates Support

July 30, 2024

Vice President Kamala Harris has upended the presidential race in the last nine days after President Joe Biden announced his decision to bow out of the race.

Why it matters: Harris cleared the field of contenders for the nomination within 48 hours after President Biden announced he would not seek re-election. Delegates who voted for President Biden in the primaries are under no obligation to vote for her, and won’t officially do so until a virtual roll call in mid-August.

  • However, the vice president has consolidated nearly every Democrat in the party and stopped any would-be challengers in their tracks almost immediately.

Harris’s robust support in just over a week comes from leading Democrat lawmakers, President Biden, and former President Barack Obama:

  • 200 representatives, 23 governors, and 45 senators have endorsed Harris. Of note, Senator Jon Tester (D-MT), Senator Joe Manchin (I-WV) (who caucuses with the Democrats), and Senator Bob Menendez (D-NJ) are the only Senate Democrats to have not yet endorsed Harris as of this writing. Vice President Harris was also endorsed on July 22 by all 50 state Democratic party chairs.
  • Former President Barack Obama, and Former First Lady Michelle Obama endorsed Harris on July 26.
  • According to the Associated Press’ Democratic delegate survey, Harris unofficially surpassed the 1,976 delegates needed to secure the nomination on July 22, the day after Biden dropped out, with commitments from 2,668 delegates.
  • Note that Harris will not officially become the nominee until the delegates vote. The DNC has signaled that virtual voting will begin by Aug. 1 and should be wrapped up no later than Aug. 7.
  • This ensures that the entire nomination process will be settled prior to the start of the Democratic National Convention in Chicago on Monday, Aug. 19.

What they’re saying: The next big decision Harris has to make is to select a vice president. While many names have been floated in D.C. circles, the top contenders include:

  • Sen. Mark Kelly (D-AZ),
  • Gov. Josh Shapiro (D-PA),
  • Gov. Tim Walz (D-MN), and
  • Gov. Andy Beshear (D-KY).

North Carolina Governor Roy Cooper (D) announced on Monday that he was bowing out of VP consideration.

What’s Next: Harris’s choice of vice president will likely be revealed soon. DNC bylaws state that the Democratic nominee needs to make his or her decision known by Wednesday, Aug. 7.

Please contact James Montfort (Jmontfort@crefc.org) with any questions.

Contact 

James Montfort
Manager, Government Relations
202.448.0857
jmontfort@crefc.org 

Illustration of the bat signal with the Presidential sea
The information provided herein is general in nature and for educational purposes only. CRE Finance Council makes no representations as to the accuracy, completeness, timeliness, validity, usefulness, or suitability of the information provided. The information should not be relied upon or interpreted as legal, financial, tax, accounting, investment, commercial or other advice, and CRE Finance Council disclaims all liability for any such reliance. © 2024 CRE Finance Council. All rights reserved.

Become a Member

CREFC offers industry participants an unparalleled ability to connect, participate, advocate and learn!
Join Now

Sign Up for eNews