The Future Forward Super PAC, which is currently supporting President Joe Biden’s re-election campaign, has reportedly been informed by donors that $90 million in donations will be frozen if he remains on the Democrat Party’s presidential ticket. Two anonymous sources familiar with the conversations have told the New York Times that several “eight-figure commitments” are among the frozen pledges. An adviser for Future Forward, which is led by Chauncey McLean, a former Democratic Party operative, has reportedly said they expected donors to come back once the current uncertainty surrounding the Democrat Party’s presidential ticket was over.
This development comes weeks after President Biden’s lackluster debate performance on June 27th against former President Donald Trump. During this debate, he appeared to freeze, spoke with a hoarse voice and had difficulty getting through his prepared closing statement. The announcement of the frozen donations also comes a day after Biden held a solo press conference where he mistakenly referred to Vice President Kamala Harris as “Trump” and introduced Ukrainian President Volodymyr Zelensky as being Russian President Vladimir Putin.
Biden met with House Minority Leader Hakeem Jeffries (D) on the night of June 27th, where Jeffries revealed concerns from some House Democrats about Biden remaining in the presidential race. The two sources did not reveal to the New York Times which donors had frozen the approximately $90 million in contributions; however, it is reported that a portion of the funds was earmarked for Future Forward’s super PAC and its nonprofit arm, which has been running advertising in key battleground states.
In light of Biden’s debate performance, several Democrats have called for him to withdraw from the race and “step aside.” Notable donors, including Netflix co-founder Reed Hastings, have also made such calls. Most recently, actor George Clooney released an op-ed in the New York Times revealing that he does not believe that Democrats can win the election with Biden atop the ticket.
The Future Forward Super PAC has been hesitant to make major strategic decisions until it receives clarity on who will be atop the Democrat Party’s presidential ticket. This uncertainty, coupled with the potential loss of $90 million in donations, highlights the precarious position President Biden’s campaign currently finds itself in. As the election approaches, it remains to be seen if this situation will change and how it may impact the race for the presidency.