Donors are pausing around $90 in pledged donations to a pro-Biden super PAC unless the president bows out.
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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.
Some huge donors and longtime Hollywood supporters have already asked the president to end his campaign. The president's consequential press conference following the NATO summit did little to soothe Democrats' anxieties, but did not tank his reelection bid, either. Several more congressional Democrats publicly asked him to pass the torch following the presser.
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.
While Biden has tried to brush off calls for him to step down as elitist or out-of-touch with everyday Americans, new polling indicates broad concern with his campaign. And elitist or not, Democrats need money to run a campaign, especially as Republicans have eroded their cash advantage.
