‘Cascade Bounty’ is a new floricane fruiting red raspberry (Rubus idaeus L.) jointly released by Washington State University (WSU), Oregon State University, University of Idaho, and the U.S. Department of Agriculture–Agriculture Research Service. ‘Cascade Bounty’ has been noted for high levels of root rot tolerance and high yields of mid- to late-season fruit on sites with severe root rot infestations. The fruit is tart, bright colored, medium size, and rounded in shape. The fruit of ‘Cascade Bounty’ machine harvests well, but the fruit does not appear to have sufficient cohesion to be suitable for individually quick frozen (IQF) processing. ‘Cascade Bounty’ is recommended for machine harvesting for processing uses. The name Cascade was selected to reflect the region where this cultivar was developed.