Major Democratic donors have reportedly put approximately $90 million in pledged donations on hold, signaling a significant hesitation towards President Joe Biden’s re-election campaign. This decision follows Biden’s poor performance in a CNN debate against Donald Trump last month.
According to two anonymous sources speaking with The New York Times, multiple eight-figure donor commitments have been frozen. The super PAC Future Forward, which supports Biden, declined to comment on the matter. However, an adviser within the group remains hopeful that the donations will resume once there is more clarity about Biden’s political future.
One donor disclosed that despite repeated requests for contributions from the super PAC since the debate, he and his associates have decided to hold off.
The two people briefed on the frozen pledges declined to say which individual donors were pulling back promised checks, which were estimated to total around or above $90 million. It was not clear how much of the pledged money was earmarked for Future Forward’s super PAC versus its nonprofit arm, which has also been running advertising in key battleground states. The super PAC has been shying away from making major strategic decisions until it gets clarity on who will be atop the ticket, according to a separate person close to the group.
The cash freeze comes as some advisers around Mr. Biden are discussing how to persuade the president to exit the race, and as his campaign has begun to test Vice President Kamala Harris in head-to-head surveys of voters against former President Donald J. Trump. The number of congressional Democrats calling for Mr. Biden to step aside is growing by the day.
This financial freeze comes as some of Biden’s advisers discuss how to persuade him to exit the race. Simultaneously, his campaign has started to test Vice President Kamala Harris in head-to-head surveys against Trump. The number of congressional Democrats urging Biden to step aside is increasing daily.
During the debate, Biden struggled with coherent responses and had a raspy voice. Democratic pundits, strategists, and an increasing number of lawmakers are calling for the president to step down before the convention and allow another candidate to face Trump in November.
