In early July, 75 wealthy Democratic political donors gathered on a Zoom call to discuss President Joe Biden’s future following a poor debate performance against Donald Trump. Only one donor believed Biden should stay in the race, while the rest urged him to drop out to defeat Trump in November. Big money donors have since launched a lobbying campaign to convince senior Democrats to publicly call on Biden to end his reelection campaign.
Donors like Hollywood executive Ari Emanuel and others have threatened to withhold funding for Biden unless he drops out, while former Secretary of State Hillary Clinton, former President Bill Clinton, and others have urged donors to support Biden. Despite pressure from donors and over 20 members of Congress calling on him to pass the torch, Biden has indicated he has no plans to drop out.
Pelosi, Schumer, and Jeffries have reportedly warned Biden about concerns from their members, saying his long odds in November could negatively impact congressional candidates. Despite a collapse in fundraising for Biden, events featuring Vice President Kamala Harris, his likely successor if he steps aside, have started to sell out. One event with Harris in Pittsfield, Mass. on July 27 is almost entirely sold out, with tickets ranging from $100 to $12,000. Folk legend James Taylor and cello star Yo-Yo Ma are headlining the event.
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