The pro-democracy business group Leadership Now is calling for President Biden to drop out of the 2024 presidential race, saying they fear former President Trump could take back the White House after Biden's "deeply concerning" debate performance last week.
In a statement on Wednesday, the business leaders urged Biden to "pass the torch of this year's presidential nomination to the next generation of highly capable Democrats," saying they "fear the risk of a devastating loss in November."
The non-profit, which was founded in 2017 by a group of Harvard Business School alumni, hailed Biden for the accomplishments of his administration but said he failed to make the case against Trump in the debate and that "The reelection of Donald Trump poses an existential threat to American democracy."
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"The threat of a second Trump term is such that we must ask President Biden and the Democratic Party to pass the torch of this year's presidential nomination to the next generation of highly capable Democrats," the statement reads. "This process will undoubtedly be messy and is not without risk. However, the stakes are too high not to act."
Leadership Now joins a growing chorus from across the political spectrum calling for Biden to drop his bid for a second term after his debate performance heightened concerns over his mental acuity.
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Texas Rep. Lloyd Doggett became the first elected Democrat to join Republicans in calling for Biden to withdraw from the presidential race on Tuesday.
The same day, businessman and Forward Party leader Andrew Yang, who endorsed Biden in 2020, said the president should now drop out "for the good of the country."
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"We have heard from many individuals who share our deep concerns about the present course but fear speaking out," Leadership Now said in its statement. "We call on others to join us in making this urgent call."
