In light of President Joe Biden’s abysmal showing at the first presidential debate of 2024, many within his own party have called for the octogenarian to step down as a candidate, so a more capable person may run.
Unfortunately for Democrats, the potential intraparty succession promises to be anything but clean.
For one, Biden’s handlers, including first lady Jill Biden, are reportedly pulling strings behind the scenes and fighting to thwart the coup.
Aside from the potential political civil war, there’s the not-insignificant matter of who will inherit Biden’s campaign and its finances if he withdraws.
According to NBC News, Biden’s running mate Vice President Kamala Harris would hold a significant amount of power were the president to drop out of the running.
The $91.2 million held by the campaign would go to Harris, but only if Democrats choose her as the replacement candidate.
Harris’ name, along with Biden’s, is on the campaign account. If Biden were to be removed, Harris would retain control of the finances, as long as she is placed at the top of the ticket.
Otherwise, it would be considered an entirely new presidential campaign.
If she is again relegated to the vice presidential position or the party picks another candidate, the waters get murkier on the fate of the campaign fortune.
Would Harris have better odds at winning in 2024 than Biden?
Yes: 1% (2 Votes)
No: 99% (151 Votes)
“This has this unique twist to it with Harris still being a part of the campaign and being considered part of the campaign from the get-go,” former associate general counsel for the Federal Election Commission Kenneth Gross said, per NBC News.
Another election finance expert cited by NBC, former FEC litigation attorney Claire Rajan, agreed that Harris would control the campaign fortune only after ascending to the presidential candidate position.
The experts pointed out the funds could be transferred to the national Democratic Party. Other options include sending the money to a charity or super PAC.
Judging from current reports out of the White House, it seems the clock is ticking for shot-callers in both the Democratic Party and Biden’s campaign.
Biden’s worrying lapse of clarity and awareness during the debate is something that has played out behind closed doors 15 to 20 times over the past year and a half, one worrying report stated.
If a decision is to be made, it must be done soon.
With the election now only four months away, the small fortune resting in the Biden campaign’s coffers could make a significant impact if deployed aggressively for the next candidate.
The question Democrats will ultimately have to ask themselves is this — Is Kamala Harris worth over $91 million?
