Biden fundraisers on hold amid donations slump
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The Biden campaign is seemingly on life support with donations plummeting following his COVID diagnosis.
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US President Joe Biden speaks at a news conference on the final day of the NATO summit in Washington, July 11, 2024. (AP)
Multiple Democratic sources involved in fundraising campaigns for the US elections revealed Friday that several fundraising efforts for President Joe Biden's re-election are "on hold," as reported by Reuters.
This comes even as the Democratic Party plans to expedite the announcement of his candidacy and his commitment to continue the 2024 race, the agency added.
Sources stated that Biden intended to raise funds in Austin, Denver, and California this week. However, these plans have been "postponed, at least for now," following Biden's COVID-19 diagnosis on Wednesday.
Additionally, the sources mentioned that a number of major donors are "closing their checkbooks amid questions about whether Biden should remain at the top of the Democratic Party's ticket."
These donors are using their financial influence to urge Biden to withdraw from the November 5 race, possibly in favor of Vice President Kamala Harris.
Biden campaign denies Reuters' report
In contrast, Biden's campaign claimed that their fundraising efforts would continue as planned and that they were "looking forward to a robust fundraising schedule," denying Reuters' report.
An informed source indicated that former comedian David Letterman will head a fundraising campaign for Biden at the home of Hawaii Governor Josh Green in approximately ten days.
The campaign had hoped to raise around $50 million in large donations for the Biden Victory Fund in July. However, it was on track to collect less than half of that amount as of Friday, according to two sources familiar with the fundraising efforts.
One major East Coast campaign financier stated, "There are many donors who said they wouldn't put another cent into this race."
Biden raised $28 million in a single night in June at a Hollywood fundraising event hosted by actor George Clooney, who later urged Biden to end his campaign.
Multiple requests to step down
The speculation around Biden's withdrawal intensified after his recent performance during the first debate with Republican candidate Donald Trump on June 27.
During the debate, Biden appeared confused and incoherent, heightening concerns about his cognitive abilities that had already been put into question. His lackluster performance caused many Democratic politicians and donors to advocate for his removal as a candidate.
The Democratic National Convention, where the party’s nominee will be officially selected, is scheduled to take place in Chicago from August 19-22. With Biden’s expected withdrawal, the event gains utmost significance for the Democratic Party as it seeks to determine its candidate for the 2024 election.
Moreover, ABC News revealed Wednesday that Biden had received requests from House Democratic Leader Hakeem Jeffries and Senate Democratic Leader Chuck Schumer to withdraw from the presidential race.
Even the man under whom Biden served as Vice President for nearly a decade, former US President Barack Obama, advised allies that Joe Biden should reconsider his decision to seek re-election. Obama believes Biden's chances of winning have diminished and that the 81-year-old should seriously evaluate whether he should carry on with his candidacy.
This comes after Biden, in a message to Democrats last week, stated it was time to "end the talk" about withdrawing from the presidential race. According to Axios, Biden said he had "intense discussions with party leadership, elected officials, and grassroots members, and most importantly, with Democratic voters, over the past 10 days," acknowledging the concerns people have raised.
Biden confirmed his candidacy, expressing his conviction that he is the best person to defeat Donald Trump. He stated his strong commitment to staying in the race, noting that "the question of how to move forward has been well posed for over a week now. It's time to end it."
Lawmakers told Axios they expect calls for Biden to withdraw to increase once Congress returns to session, viewing Biden's message as a clear attempt to suppress these calls before they gain momentum.
