Democratic donors move hard against Biden: 'Deep concern': reports
Megadonors to the Democratic Party are aiming to pressure President Biden out of his re-election campaign by withholding funds if he remains the candidate, according to multiple reports.
Democratic donors seem to be forming a coordinated front against President Biden, seeking to push him out of office, according to multiple reports.
While the Democratic Party has ostensibly planned to push through Biden as their candidate as soon as next week, a last minute coalition of leaders, donors, and lawmakers seem to have made a concerted effort to pressure Biden out of his commitment to run for re-election.
"I think it’s going to end very shortly," a megadonor close to Senate Majority Leader Chuck Schumer told the Financial Times.
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Megadonor opponents to Biden's re-election campaign have threatened to withhold donations to the party until the president ends his efforts and allows a new candidate to take his place.
Two sources familiar with the conversations told MSNBC that donors speaking with Democrats to make clear their stance of no-confidence in Biden include Hollywood heavyweight Ari Emanuel and Intermediate Capital Group senior managing director Alan Jones.
Democratic lawmakers and candidates across the country fear that Biden's plummeting support since his disastrous performance at the first presidential debate will have ramifications for down-ballot elections.
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Polls show voters nationwide consider Democratic Party lawmakers' denial that Biden's mental faculties are slipping to be dishonest.
Former House Speaker Nancy Pelosi reportedly talked to Biden over the phone and presented polling that suggested the president's re-election campaign was tanking Democrats' chances on the ticket, according to multiple reports.
Former President Barack Obama has also spoken with Biden multiple times since the presidential debate. The former president has told those in his circle that Biden's chances for victory are slim.
Despite the overwhelming pressure, Biden still maintains a few powerful allies within the party.
Former Secretary of State Hillary Clinton and her husband, former President Bill Clinton have urged donors to stay with the president.
Biden campaign co-chair Jeffrey Katzenberg has also vowed to do his best to bring in the necessary donations to keep the campaign running.