Calls to replace President Biden as the Democratic nominee continue to affect his re-election efforts. Campaign finance experts are concerned that financial obstacles could prevent another Democrat from taking over if Biden steps down. The Biden-Harris campaign raised a significant amount of money, reporting $127 million in June alone. However, there are doubts about whether a new candidate would have access to these funds.
According to a political fundraiser familiar with presidential campaign finance, the money raised is currently only accessible to Joe Biden or Kamala Harris. While Vice President Harris may be able to use the campaign funds because her name is on the ticket, there could still be challenges in doing so. The Federal Election Commission commissioner, Trey Trainor, mentioned that it is uncertain whether the funds could be transferred to Harris.
Legal experts suggest that if Biden is replaced as the nominee, the Biden-Harris campaign could transfer the funds to the Democratic National Committee. However, there are limitations on how the campaign arm can distribute that money. Trainor expressed his belief that Democrats may have no choice but to stick with Biden as their nominee due to the financial hurdles involved.
Potential replacements for Biden, such as Democratic Govs. Gavin Newsom and Gretchen Whitmer, along with Transportation Secretary Pete Buttigieg, may face difficulties in obtaining the campaign funds. Despite calls for Biden to step down within his party, experts predict that he will likely remain the Democratic nominee, even if the decision ultimately comes down to campaign finances.
In conclusion, the financial implications of replacing Biden as the Democratic nominee are complex and could pose significant challenges for any potential successor. The outcome of this situation remains uncertain, but it seems that campaign cash may play a crucial role in determining the future of the Democratic ticket.