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Although the next Democratic presidential nomination is still a long way off, potential candidates are already vying for donor attention. Two prominent figures from the Democratic Party’s rising generation, Cory Booker and Alexandria Ocasio-Cortez, are emerging as key players.
Senator Cory Booker of New Jersey has accumulated $16 million since his 2020 re-election, placing him second only to Senator Jon Ossoff in fundraising among Democrats seeking re-election this cycle. Booker’s impressive fundraising occurred before his recent 25-hour speech on the Senate floor, an event widely seen as a potential prelude to a 2028 campaign. The $1 million raised during the start of the year is not reflected in the $12.4 million he currently has available as he anticipates an easy re-election next year. Ossoff’s fundraising surpasses Booker’s by a significant margin, his seat is a major target for Republicans in the 2026 Senate races while Booker’s seat is considered secure.
Representative Alexandria Ocasio-Cortez, representing parts of the Bronx and Queens in New York, has also demonstrated significant fundraising ability, collecting $9.6 million through March. Among House candidates, only Gay Valimont, a gun-safety advocate who recently lost a bid for a Florida House seat, has raised more than Ocasio-Cortez. Ocasio-Cortez has been campaigning with Senator Bernie Sanders, attracting large crowds and numerous small-dollar donations, solidifying her position as a leading progressive figure.
It remains uncertain whether Booker and Ocasio-Cortez will pursue a presidential bid in 2028. Booker’s 2020 presidential campaign failed to gain momentum, leading him to withdraw before the first votes. Ocasio-Cortez has only recently met the minimum age requirement for the presidency, and there is speculation in New York about whether she will aim for the presidency or challenge Chuck Schumer for his Senate seat in 2028.
As the Democratic Party navigates its identity in what could be a second Trump era, a diverse field of potential candidates is anticipated. This group may include figures such as Michigan Governor Gretchen Whitmer, California Governor Gavin Newsom, Pennsylvania Governor Josh Shapiro, former Transportation Secretary Pete Buttigieg, Illinois Governor J.B. Pritzker, and Maryland Governor Wes Moore, among others.
Despite the presence of these other potential candidates, the fundraising success of Booker and AOC is noteworthy. Funds raised for House or Senate campaigns can easily be used as initial capital for a presidential run, unlike funds raised for state-level campaigns. Financial resources play a crucial role in any ambitious politician’s decisions about their future. Booker’s struggles with fundraising in his previous presidential attempt contributed to his decision to withdraw from the race. Conversely, Ocasio-Cortez’s career began with a surge of small-dollar donations that unseated a long-serving incumbent who was considered a future leader within the House Democrats.
If Booker and Ocasio-Cortez maintain their fundraising momentum and use their resources to support vulnerable incumbents or emerging challengers, they could become influential figures in shaping the future direction of the Democratic Party.
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