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Business Insider
Major Democratic donors are reportedly withholding $10s of millions unless Biden drops out
By Alice Tecotzky,
5 days ago
Democratic donors are reportedly freezing $90 million in pledged donations to a Biden super PAC.
The donors plan to withhold the cash unless Biden steps aside, sources told the NYT.
Already, some megadonors and Hollywood bigwigs have publicly pressured Biden to end his campaign.
Donors told a leading Biden super PAC that they're pausing around $90 million of promised funds unless the president steps aside, two sources told the New York Times . Some of the pledges were going to stretch into the eight-figures.
Future Forward is the biggest super PAC supporting Biden and declined to comment on the fallout. A spokesperson did tell The Times that the PAC expects donors to return once the uncertainty about the campaign sorts itself out. Biden, for one, seems sorted — he is digging in his heels about staying in the race, but Democrats are reluctant to accept his answer.
The withheld donations illustrate the depth of the president's post-debate woes and upward battle. Though the campaign touted huge June fundraising numbers to try and assuage spooked Democrats, it is gearing up for a tough money cycle in July.
Even Biden's own campaign staff seems to understand the depth of his current crisis. His analytics team reportedly conducted a survey measuring Kamala Harris' performance in a head-to-head battle against Donald Trump.
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