Top Democratic donors creating political fund for possible Biden replacement: Report

[mystery-ak]

Top Democratic donors creating political fund for possible Biden replacement: Report
By
Cami Mondeaux
July 4, 2024 8:45 pm
.

A group of top Democratic donors and strategists is pooling resources into a new political action committee to help fund an alternative candidate to President Joe Biden should he withdraw from the presidential race, according to a new report from the New York Times.

The fund, coined the Next Generation PAC, is aiming to raise as much as $100 million to help support a candidate who replaces Biden at the top of the ticket, according to the outlet. If Biden doesn’t drop out of the race, the money would then be used to fund down-ballot candidates.

The Next Generation PAC is being spearheaded by Mike Novogratz, a cryptocurrency investor who previously backed Rep. Dean Phillips (D-MN) in the Democratic primary, the outlet reported. The group has not yet filed federal paperwork, but PAC officials have reportedly told donors it hopes to raise between $50 million and $100 million.

People connected to the Biden campaign have heard of the possible stealth project and have attempted to convince those involved not to join, according to the outlet.

If the PAC manages to raise large sums, it could benefit Vice President Kamala Harris if she replaces Biden as the nominee, especially as some major donors have remained skeptical about her at the top of the ticket.

The Next Generation PAC comes as some donors begin to question Biden’s strength to campaign against former President Donald Trump let alone the ability to carry out another four years in office. Those concerns were exacerbated after last week’s debate, during which Biden had multiple verbal slip-ups and repeatedly lost his train of thought.

His performance has prompted some major donors to consider pouring their resources into down-ballot races rather than the White House, according to reports. Others have even gone so far as to threaten to withhold funds from the Democratic Party altogether unless Biden steps down.

more
https://www.washingtonexaminer.com/news/campaigns/presidential/3070706/top-democratic-donors-creating-political-fund-biden-replacement/

[mystery-ak]

https://twitter.com/schwartzbCNBC/status/1808988468447752682

[mystery-ak]

Disney heiress, wealthy Democratic donors say they won’t finance the party until Joe Biden drops out
Published Thu, Jul 4 20246:15 PM EDTUpdated An Hour Ago

Brian Schwartz

    Abigail Disney, an heiress to the Disney family fortune, plans to withhold donations to Democrats until Joe Biden drops out.
    Biden has said he has no plans to withdraw from the race.
    Gideon Stein said he’s decided to pause planned donations of $3.5 million.

President Joe Biden is facing an uprising from some his own party’s wealthy donors, including an heiress to the Disney

family fortune, who say they will no longer fund the Democratic Party until Biden drops out of the presidential race following his disastrous debate performance.

Abigail Disney, granddaughter of Roy O. Disney, who co-founded The Walt Disney Co., told CNBC on Thursday that she plans to withhold donations to the party she has funded for years until Biden drops out. The president has said he has no plans to withdraw from the race, despite calls for him to do so.

“I intend to stop any contributions to the party unless and until they replace Biden at the top of the ticket.  This is realism, not disrespect. Biden is a good man and has served his country admirably, but the stakes are far too high,” Abigail Disney said in a lengthy statement to CNBC. “If Biden does not step down the Democrats will lose. Of that I am absolutely certain. The consequences for the loss will be genuinely dire.”

The Democratic Party at large has been in a state of panic since Biden struggled to perform in the debate against former President Donald Trump last week. Rep. Lloyd Doggett, D-Texas, called on Biden to drop out of the race, suggesting the debate performance proved to voters that the president is incapable of taking on Trump and unable to overcome his distance in the polls.

more
https://www.cnbc.com/2024/07/04/democratic-donors-wont-finance-party-until-joe-biden-drops-out.html

[Fishrrman]

All this talk right now to wit "if ol' joe drops out, he takes his campaign war chest with him" is FUD -- distortion, for the sake of creating confusion.

Once ol' white joe has been replaced, by, say, andy beshear or josh shapiro, THE MONEY WILL COME.

From someplace, somewhere.
But it will pour in.
They aren't going to lack for cash.

Again, FUD...