According to media reports, President Joe Biden’s fumbling appearance in public has put the Democrats’ financiers on their toes.
12.7. 19:29•Updated 12.7. 19:34
In the United States, some of the major donors of the Democratic Party have been frozen by the president Joe Biden the donations he promised to the largest support association until Biden gives up the presidential race.
The newspaper tells about it The New York Timeswho has interviewed two people familiar with the matter.
The Democratic Party and its donors have been in turmoil since 81-year-old Biden’s disastrous performance in the election debate Donald Trump had raised concerns about its condition.
According to NYT, the financiers would have frozen the funds promised to the Super PAC association Future Forward for about 90 million dollars.
Super PACs are associations to which individuals, companies and associations can donate unlimited amounts of money. They may not finance the candidate’s campaign directly, but help the candidate in other ways. For example, Future Forward announced in January that it would reserve advertising space for Biden for $250 million.
According to NYT, the frozen donations include several individual eight-figure sums.
Future Forward did not comment on the matter to the newspaper. However, the association’s adviser says that the association expects the financiers to release the frozen donations as long as the uncertainty about the Democratic Party’s candidate dissipates.
One of the donors tells the newspaper that Future Forward has approached him several times since the election debate. The donor says that he and his friends have, however, postponed making the donation.
According to the newspaper, the association also seems to have avoided large movements before the Democrats’ candidate situation became clear. An opinion poll by an organization very close to Future Forward has been released to the public, according to which Biden’s overall popularity is falling behind possible alternative candidates.
The gap in Future Forward’s funding coincides with the Biden campaign’s own fundraising campaign. Several notable financiers, such as the actor George Clooneyhave expressed doubt that Biden can win the November presidential election.
Just before the election debate at the end of June, Future Forward had gathered financiers to discuss the situation of election financing, two participants in the meeting tell NYT. The association had said that it was aiming for a total election fund of at least 700 million dollars, and that it had collected 430 million dollars so far.