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Following his disastrous debate performance against his Republican rival Donald Trump in Atlanta on June 27, Biden, 81, has been gradually losing his support from some of his key friends and allies. So far, as many as 18 Democratic lawmakers have asked him to drop from the November 5 presidential race. read more
 "Biden's re-election campaign hits roadblock as donors freeze $90 Million")
US President Joe Biden delivers remarks on the 75th anniversary of NATO at the Andrew W. Mellon Auditorium, July 9, 2024, in Washington. File Photo- AP
In a significant blow to President Joe Biden’s re-election campaign, a group of his fundraisers has decided to freeze approximately USD 90 million in previously pledged contributions if he continues to lead the Democratic presidential ticket. This decision comes after Biden’s poor performance in a recent debate.
President Biden was under pressure from some major Democratic donors ahead of a crucial period in his re-election bid. Some of these donors have publicly said that they will withhold funds unless Biden is replaced as the party’s candidate, following his disappointing debate performance earlier this month.
“The cash freeze deals a blow to Biden’s campaign,” The New York Times reported. “The frozen contributions include multiple eight-figure commitments, according to two people, who spoke on the condition of anonymity given the sensitivity of the situation,” the daily reported.
“The decision to withhold such enormous sums of money is one of the most concrete examples of the fallout from Mr. Biden’s poor debate performance at the end of June,” it said.
Following his disastrous debate performance against his Republican rival Donald Trump in Atlanta on June 27, Biden, 81, has been gradually losing his support from some of his key friends and allies. So far, as many as 18 Democratic lawmakers have asked him to drop from the November 5 presidential race.
The cash freeze is seen as another move by the party leadership to force him to leave the race. Biden has so far said that he is running and is confident of defeating Trump in the November presidential elections.
Future Forward is one of the largest Super PACs to support Biden. It has already announced USD 250 million in television and digital advertising reservations after the Democratic National Convention in Chicago in August.
With inputs from agencies.
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English (US) ·