Things have just gotten much worse for Biden.
Media reports have indicated a significant development within Democratic circles concerning Future Forward, the primary pro-Biden super PAC. According to sources, approximately $90 million in pledges from major Democratic donors are currently in limbo pending clarity on President Joe Biden’s candidacy in the upcoming presidential election.
Reported by The New York Times, several large pledges, each in the eight-figure range, have been frozen following concerns over Biden’s performance in recent debates against Donald Trump. One donor revealed that since the debate, there have been persistent requests from Future Forward for contributions, but he and his associates have chosen to withhold their commitments for now.
The identities of the donors retracting their pledges remain undisclosed, but the combined value is estimated to exceed $90 million. Sources familiar with the situation have indicated that the super PAC is deferring major strategic decisions until there is certainty about the Democratic presidential nominee.
This financial hesitation aligns with ongoing discussions among Biden’s advisors about the feasibility of his continuing candidacy. Concurrently, the campaign has begun testing Vice President Kamala Harris against Donald Trump in direct voter polls, as pressure mounts from Democratic lawmakers urging Biden to step aside.
As Future Forward, designated as Biden’s primary super PAC for the 2024 election, prepares for an intense fundraising period in July, doubts among key donors about Biden’s electoral prospects have surfaced. Despite reserving $250 million for TV and digital advertisements post-Democratic National Convention, the super PAC faces challenges due to the current funding uncertainty.
In response to Biden’s debated performance, leaked polls from organizations affiliated with Future Forward have compared Biden’s favorability against other potential Democratic candidates like Kamala Harris, Gavin Newsom, Gretchen Whitmer, and Pete Buttigieg. Notably, Biden’s favorability ratings lag behind those of his potential successors, adding to the apprehension among Democratic donors.
Overall, the reported freeze in financial commitments underscores growing apprehensions within Democratic donor circles regarding Biden’s electoral viability, signaling a pivotal moment as the party navigates its path towards the 2024 presidential race.
