The Iowa Caucuses took place on January 19th, 1976. On the Republican side, Governor Reagan narrowly, and to some observers surprisingly defeated President Ford by winning 48% to President Ford's 46% of the vote. In his victory speech to a crowd of cheering supporters, Reagan said that "Tonight is only the beginning of our journey to get the Government off the backs of the American people and this beginning wouldn't be possible if not for the great people of Iowa, and I thank them from the bottom of my heart. Now it's off to New Hampshire, thank you and God Bless." President Ford in his speech congratulated Governor Reagan and said "This was a close contest and the race is far from over. This spirited campaign continues."
On the Democratic side, after spending many months in the state, Governor Jimmy Carter won the Iowa caucus with 49% of the vote to Senator Kennedy's 45%. George Wallace and Fred Harris each won 1.5% of the vote while 3 % of the vote was uncommitted. Governor Carter said in his speech "The people of Iowa have spoken tonight and they, like many throughout this great land want a change in Washington and voted accordingly." Senator Kennedy, who spent little time in Iowa, issued a statement congratulating the former Georgia Governor and thanked all those who supported him. After tonight, many who thought this contest for the Democratic primary would be a walk for Senator Kennedy, now wondered, after being beaten by a little known Governor of a small state, if the Democrats were going to see an actual contest for their party's nomination.