Wealthy Dem Donor Threatens to Withhold Money if Biden Does Not Leave Race
Some wealthy donors who have funded the Democratic Party in the past are threatening to stop giving unless President Joe Biden withdraw from the presidential race. This in one of the latest developments regarding the…
Some wealthy donors who have funded the Democratic Party in the past are threatening to stop giving unless President Joe Biden withdraw from the presidential race.
This in one of the latest developments regarding the Democratic Party since Biden’s poor performance at the debate against former President Donald Trump on June 27, per NBC News.
One donor is Abigail Disney, a longtime supporter of the Democratic Party.
Disney is a granddaughter of Roy O. Disney, who cofounded The Walt Disney Co.
On Thursday, Disney said she plans to stop donations until Biden drops out.
“I intend to stop any contributions to the party unless and until they replace Biden at the top of the ticket. This is realism, not disrespect. Biden is a good man and has served his country admirably, but the stakes are far too high,” Abigail Disney told CNBC. “If Biden does not step down the Democrats will lose. Of that I am absolutely certain. The consequences for the loss will be genuinely dire.”
To date, Biden has said he has no plans to leave the race against Trump.
Disney added Vice President Kamala Harris could step in and could beat Trump.
“We have an excellent vice president. If Democrats would tolerate any of her perceived shortcomings even one tenth as much as they have tolerated Biden’s (and let’s not kid ourselves about where race and gender figure in that inequity) and if Democrats can find a way to stop quibbling and rally around her, we can win this election by a lot,” Disney said.
Disney is not alone in her opinion about the race for the White House and withholding donations.
Gideon Stein, the president of the Moriah Fund, said he will stop a $3.5 million donation earmarked for nonprofits and political organizations supporting the presidential race.
“Joe Biden has been a very effective president, but unless he steps aside my family and I are pausing on more than $3 million in planned donations to nonprofits and political organizations aligned with the presidential race, with the exception of some down ballot work,” Stein said. “Virtually every major donor I’ve talked to believes that we need a new candidate in order to defeat Donald Trump.”
Rep. Lloyd Doggett, D-Texas, has also called for Biden to drop out of the race.
Doggett pointed to the debate as a reason since it proved Biden can’t compete against Trump.
According to a New York Times/Sienna College poll, Biden trails Trump by 6 percentage points.