Major Democratic Donor Vows Not “Another Dime” Unless Biden Drops Out

Frustrated with President Biden and his campaign after last week’s disastrous debate performance, major Democratic donors say they will withhold their campaign contributions unless Biden leaves the race.

The New York Times reports that major donors including Disney heiress Abigail E. Disney, Hollywood producer Damon Lidelof, and politically well-connected donor Gideon Stein all plan to keep their money to themselves until Biden steps aside. 

Disney said that the Biden campaign and the committees supporting it, such as super PACs, the Democratic National Committee, and nonprofits “will not receive another dime from me until they bite the bullet and replace Biden at the top of the ticket.”

“Biden is a good man who has served his country well, but the stakes are far too high to allow timidity to determine our course of action,” Disney added.

“A new ticket is in the best interest of defeating Donald Trump,” said Stein, who said his family would hold back on $3.5 million in political donations unless Biden withdraws from the 2024 contest.

Losing some of the wealthiest campaign contributors is bad news for Biden, and will add to fears brought on by grim poll numbers and open criticism from other Democrats, as well as muted criticism from White House staff. Two sitting members of Congress, Representatives Lloyd Doggett and Raúl Grijalva, have publicly called on Biden to step aside from the 2024 race, while other House members are circulating a draft letter calling for the same. The more support Biden loses, the greater the pressure will be for him to drop out, and bad press against him could hurt his poll numbers even further.

While the Democratic National Convention isn’t until August, the party was planning on holding a virtual call to formally nominate Biden as the Democratic presidential nominee earlier to avoid legal deadlines for ballot access in certain states. Biden and his family have a big choice to make, and soon: Republicans (and Donald Trump) may prefer Biden, but they are already licking their chops against potential replacements.