Following President Joe Biden’s poor performance in the first 2024 presidential debate, there have been calls from within his own party for him to step down in favor of a more capable candidate. However, the process of finding a successor is likely to be complex and contentious. Key figures, including First Lady Jill Biden, are reportedly working behind the scenes to prevent Biden from being ousted.
A significant issue is who would take over Biden’s campaign and its finances if he withdraws. NBC News reports that Vice President Kamala Harris would have considerable influence if Biden were to step aside. The $91.2 million currently held by Biden’s campaign would transfer to Harris, but only if she is chosen as the replacement presidential candidate. Harris’ name, along with Biden’s, is on the campaign account. If Biden is replaced and Harris is not at the top of the ticket, the campaign funds could be subject to different rules.
If Harris remains the vice presidential candidate or if another candidate is selected, the situation regarding the campaign funds becomes less clear. The money could be redirected to the national Democratic Party, donated to charity, or moved to a super PAC. Election finance experts, including Kenneth Gross and Claire Rajan, have highlighted that Harris would only control the campaign funds if she becomes the presidential nominee.
Recent reports indicate increasing concern within the Democratic Party and Biden’s campaign about his repeated lapses in clarity and awareness, similar to his debate performance. These issues have reportedly occurred multiple times over the past 18 months.
With the election just four months away, the substantial funds in Biden’s campaign could significantly impact the next phase of the campaign if used effectively for a new candidate. The pressing question for Democrats is whether Kamala Harris is the right choice to manage and benefit from these resources.
