Major Democratic donors withhold $90 million in Biden campaign funding
Several prominent Democratic donors have informed Future Forward, the largest pro-Biden super PAC, that approximately $90 million in pledged donations is now on hold if President Joe Biden remains the candidate, according to a report by The New York Times.
Funding freeze amid party crisis
These frozen contributions come at a critical time for Biden, who was aiming to move past a prolonged crisis within his party. This effort included a nearly hour-long news conference on Thursday evening, where Biden made a few gaffes but also demonstrated a strong grasp of foreign policy.
Mixed reactions to Biden’s performance
While this appearance did not immediately exacerbate Democrats’ concerns about his electability, it also failed to quell the calls for him to step down. Following his speech, three additional House members joined the growing chorus of elected Democrats urging Biden to end his campaign and step down from the race.
The ongoing concerns about Biden’s viability as the Democratic candidate for the upcoming election have intensified discussions within the party about potential alternatives. The withheld donations reflect a significant level of uncertainty among major donors regarding Biden’s ability to secure a victory in the general election.