President Joe Biden is facing considerable pressure from several high-profile Democratic donors, including Abigail Disney, to exit the presidential race after a debate performance that was criticized heavily.
According to CNBC, these influential donors have halted their financial support for the party and are pushing for Vice President Kamala Harris to replace Biden as the candidate for the upcoming election.
Last week, in a critical debate against former President Donald Trump, President Biden’s performance fell short of expectations. This event has sparked a notable shift among some of the Democratic Party's most significant backers.
Abigail Disney, an heiress of the Disney fortune, articulated displeasure with Biden's debate approach, emphasizing the strategic consequences this could have for Democrats in forthcoming elections.
Following her assessment, Disney announced on a CNBC broadcast that she would cease funding the Democratic Party as long as Biden remains a candidate. She voiced a sharp critique of his campaign conduct and proposed an alternative leadership under Vice President Kamala Harris.
Abigail Disney expressed her concerns, stating:
I intend to stop any contributions to the party unless and until they replace Biden at the top of the ticket. This is realism, not disrespect. Biden is a good, man and has served his country admirably, but the stakes are far too high. If Biden does not step down the Democrats will lose. Of that, I am certain. The consequences for the loss will be genuinely dire.
In response to rising concerns about Biden's candidacy, other donors are reconsidering their financial involvement. Gideon Stein, president of the Moriah Fund, stated plans to pause donations exceeding $3 million to political organizations aligned with the presidential race, except for some lower ballot efforts. Similarly, a distinguished philanthropist, Karla Jurvetson shared her disinclination to continue her support on a private donor call last Tuesday.
The repercussions of Biden’s debate performance and subsequent donor backlash are starting to manifest within the party.
Democratic Congressman Lloyd Doggett also advocated for Biden to withdraw, highlighting that the debate “proved to voters that the president is incapable of taking on Trump and unable to overcome his distance in the polls.”
A recent poll conducted by New York Times/Sienna College underscores the challenge, revealing Biden is six percentage points behind Trump among likely voters. This distancing in the polls and the critical voices from within his party place Biden's campaign in a precarious position as it moves forward without these crucial financial backers.
Disney further supported her stance by commending Vice President Kamada Harris as a potential replacement, criticizing the disparity in treatment between her and Biden based on race and gender biases.
We have an excellent Vice President. If Democrats would tolerate any of her perceived shortcomings even one-tenth as much as they have tolerated Biden’s (and let’s not kid ourselves about where race and gender figure in that inequity) and if Democrats can find a way to stop quibbling and rally around her, we can win this election by a lot.
High-profile Democratic donors are now opting to hold back funding until there is a shift in the party's presidential ticket, advocating for Vice President Kamala Harris as a more suitable candidate. This movement underscores deep divisions within the party regarding the viability of Biden’s candidacy and the strategic direction for the upcoming presidential election.
