Wealthy donors to President Joe Biden are withholding $90 million in pledged contributions to the main super PAC supporting his candidacy in protest of his decision to stay in the race, The New York Times reported—a significant financial setback for the president’s campaign following his June 27 debate performance.
President of United States Joe Biden at the Ukraine Compact during the final day of the NATO Summit ... [+]
The group of donors reportedly told the super PAC Future Forward they won’t make the contributions, which include multiple commitments over $10 million, if Biden continues his candidacy, the Times reported, citing two unnamed sources briefed on the conversations.
An unnamed Future Forward adviser told The Times the group expected donors who have paused contributions in the wake of the debate to resume giving once there was more clarity about the future of the Democratic ticket.
This is a developing story and will be updated.