Sen. Cory Booker of New Jersey has $23 million in cash on hand for his Senate campaign, according to recent financial disclosures. The funds, reported as part of his Senate campaign reserves, include contributions designated for a potential future presidential bid, as Booker registered the Booker Victory Fund the same day he suspended his 2020 presidential run in 2020. The joint committee supports his Senate campaign, the New Jersey Democratic Party, and the Senate Democratic campaign arm.
On Wednesday, Booker is scheduled to hold a fundraising event in Park City, Utah, targeting local Democratic donors. The invitation, obtained by the Deseret News, describes the event as a pitch for the "Booker Victory Fund," signaling his continued engagement with the party infrastructure that could support a 2028 presidential campaign.
Early 2028 polling and financial moves
A Rasmussen Reports poll released this week shows Vice President Kamala Harris leading potential Democratic rivals with 37% support among likely Democratic primary voters. California Gov. Gavin Newsom follows at 14%, while Rep. Alexandria Ocasio-Cortez (D-N.Y.) holds 9%. Harris’s support has increased from 34% in a May poll, indicating a strengthening position in the early field. Ocasio-Cortez’s support has declined from 11% in May to 9%, placing her in a statistical tie with Arizona Sen. Mark Kelly and former Transportation Secretary Pete Buttigieg.
Booker’s financial position and Utah fundraiser reflect broader early maneuvering among potential 2028 contenders. Political analyst Larry Sabato, director of the University of Virginia Center for Politics, noted that Booker’s activities suggest serious intent. "That tells me he's serious about it," Sabato told the Deseret News. "And he should be; you know, when you get to your second and last try, you want to pull out all the stops."
Party dynamics and strategic positioning
Sabato’s Crystal Ball newsletter identifies 38 Democrats already taking steps that indicate interest in a 2028 run, with projections that half may ultimately enter the race. The upcoming election cycle is shaping up as a pivotal moment for the Democratic Party to define its platform and priorities. Booker’s fundraising efforts, while focused on his Senate re-election, are widely interpreted as laying groundwork for a potential presidential campaign.
Harris, who has not formally declared her intentions, told Rev. Al Sharpton earlier this year that she is "thinking about it" regarding a 2028 run. Her early polling lead contrasts with the fragmented field, where other high-profile names like Newsom and Ocasio-Cortez hold significantly lower support.
Financial and electoral context
Booker’s $23 million cash reserve is among the highest for House and Senate members in deep-blue districts, alongside Reps. Ro Khanna (D-Calif.) and Ocasio-Cortez, who each have approximately $16 million in campaign funds. These reserves are typically used to deter primary challengers and bolster party infrastructure, but they also serve as a financial springboard for presidential ambitions.
The Booker Victory Fund, registered in 2020, allows donors to contribute to Booker’s Senate campaign, the New Jersey Democratic Party, and the Senate Democratic campaign arm. This structure provides a mechanism for Booker to maintain visibility and financial support without an active presidential bid, while keeping options open for 2028.
Expert perspectives on the early field
Grant Davis Reeher, a professor of political science at Syracuse University, noted the significance of early polling in gauging candidate viability. "It is interesting that AOC has fallen, given the rising star of democratic socialism in Democratic primaries," Reeher told Newsweek. "Maybe there is something about the current political environment that is not as conducive to that message."
Political observers suggest that the 2028 primary could hinge on themes of electability, policy priorities, and party unity. Booker’s Utah fundraiser and Harris’s polling lead reflect divergent strategies: Booker is building grassroots and financial support, while Harris appears to be consolidating early voter preference.
The Democratic Party’s approach to the 2028 election remains undefined, with potential candidates positioning themselves across policy and ideological spectrums. Booker’s actions underscore the early, behind-the-scenes work that precedes a presidential campaign, while Harris’s polling numbers highlight the fluidity of the current landscape.