The chapter delves into President Biden's decision to drop out of the 2024 race and its implications on Democratic Party donors. It explores the potential impact on campaign financing and the strategic considerations for Vice President Harris as she inherits Biden's campaign funds. The chapter also discusses the emergence of new political action committees and the dynamics of support within the Democratic Party for different potential candidates.
Joe Biden’s decision not to run for reelection leaves the Democratic nominee that replaces him with an unprecedented challenge: running a successful presidential campaign in under four months. That will take a lot of money.
On today’s Big Take podcast: How much could that campaign cost? Gregory Korte and Laura Davison, who cover money and politics for Bloomberg, dig into that question, Kamala Harris’s fundraising edge and how Democratic donors are reacting to the news.
Read more: Joe Biden Bows to Democrats Who Wanted Him Out, Upending US Politics
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