Democratic donors hold $90 million in pledges amid concerns over Biden's candidacy
Shafaq News/ Several prominent Democratic donors have informed Future Forward, the largest pro-Biden super PAC, that approximately $90 million in pledged contributions are now on hold if President Biden remains the party's nominee, sources familiar with the matter said.
The frozen commitments, including multiple pledges exceeding eight figures, highlight the fallout from Biden's lackluster debate performance at the end of June. Future Forward declined to comment on specific conversations with donors but expects paused donations to resume once uncertainties surrounding the ticket are resolved.
One donor reported being approached multiple times by Future Forward since the debate but stated that contributions had been put on hold. Sources briefed on the frozen pledges did not disclose donor identities but noted the freeze affects both Future Forward's super PAC and nonprofit arm, engaged in advertising across battleground states.
The cash freeze aligns with internal discussions among Biden's advisers on persuading him to withdraw from the race. Biden's campaign has initiated surveys testing Vice President Kamala Harris against former President Donald J. Trump amid calls from some Democrats for Biden to step aside.
Meanwhile, Future Forward has already outlined $250 million in advertising bookings following the Democratic National Convention next month. A leaked poll linked to the super PAC showed Biden trailing potential alternatives like Harris, Gavin Newsom, Gretchen Whitmer, and Pete Buttigieg in favorability ratings.
Before the debate, Future Forward convened donors, aiming to raise over $700 million between its super PAC and nonprofit arm, having secured $430 million by that point.
