Vice President Kamala Harris standing at a podium with microphones at a post debate campaign rally in Las Vegas on June 28, 2024 6 Kamala Harris is poised to get the massive war chest from the campaign if Biden drops out.
That's because only Biden and Harris are named in the federal paperwork for the campaign which donors gave money to, which amounts to the lion's share of the money raised.
Kamala Harris is poised to take Joe Biden’s place if he drops out of the presidential race — in part because she’s the only person who can take control of the Democrats $240 million war chest, sources told The Post.
Many prominent Democrats are waiting in the wings to take the ailing 81-year-old’s place, but the quarter billion Biden-Harris have raised is non-transferrable, campaign finance sources told The Post.
“Biden has two real choices: Kamala inherits; or they transfer it all to the DNC,” Signum Global partners Rob Casey told The Post. “That money would all be accessed by Kamala… anyone else would be on their own for fundraising.”
Even if Biden wanted to, campaign finance sources say giving the money to another candidate — like California governor Gavin Newsom or Michigan governor Gretchen Whitmer, whose names have been mentioned as possible replacements — would prove sticky.
Biden's campaign says it raised $127 million in June, its best month on record for the re-election campaign, according to CBS, which also noted it is spending around $50 million a month on ads.
Joe Biden, Democratic presidential candidate and former vice president, holding an ice cream cone during a campaign stop at The Cone Shoppe in Monticello, Iowa 6 Joe Biden has said he plans to remain in the race despite growing calls from the media - and even some elected officials - urging him to drop out.
https://nypost.com/2024/07/02/us-news/kamala-harris-to-inherit-240m-dem-funds-if-biden-drops-out/
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