Democratic donors are reportedly “coming back in droves” after President Joe Biden decided to step aside from the 2024 presidential race.

On Sunday, CNN’s Priscilla Alvarez said she was in contact with Democratic insiders just moments after Biden announced he would “stand down” from the race.

“What I am learning now is that I’m getting text messages from sources who say donors, big-dollar donors, are now abruptly, suddenly reaching out again to advisers to say they want to donate,” Alvarez told CNN host Kaitlan Collins. “We had seen in recent weeks that some big-dollar donors were starting to hold back their checks over concerns and questions about President Joe Biden’s candidacy.”

“Now that this decision has been made by President Joe Biden not to seek reelection, I am hearing from sources who say that these big-dollar donors are coming back in droves now wanting to give money,” she continued. “Multiple donors had also reached out to the vice president’s team leading up to this decision, saying essentially that they were willing to support her if she were at the top of the ticket.”

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Alvarez called the development a “remarkable moment” from “the donors who up until this point were holding back that money just because there have been so many questions about [Biden’s] viability as a candidate.”

Separately, Kenneth Pennington reported that “Democratic fundraising is off the charts right now. Across the board.”

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