As Joe Biden’s influence with donors wanes, Kamala Harris will headline a sold-out fundraiser this weekend.
Biden has struggled to raise money in recent weeks as Democratic leaders including Sen. Chuck Schumer and Rep. Nancy Pelosi have called for him to step down, but The Washington Post has learned that the vice president sold out a fundraiser in Provincetown, Massachusetts on Saturday, raising about $2 million from 800 attendees.
While Biden’s fundraising efforts are said to be “on hold” as he recovers from COVID-19 at his Delaware home, rumors are growing around Harris as donors seek to ingratiate themselves with the vice president, who is expected to take the lead among candidates if Biden drops out of the race.
“Biden’s money is drying up,” a well-funded source told The Post. “He’s a dying man.”
As first reported by The New York Times, Harris held a surprise meeting on Friday with donors, including LinkedIn co-founder and megadonor Reid Hoffman and Biden campaign co-chair Jeffrey Katzenberg, to reiterate that she and Biden remain focused on defeating Trump.
Despite Harris’ public calls to support Biden, political fundraisers such as Emily’s List, a political action committee that works to elect Democratic women, and Way to Win, an organization that can quickly move money to candidates, have begun discussions with donors about potentially donating to Harris if she wins instead of Biden, The Washington Post has learned.
“She’s going to have no trouble raising money,” said one longtime Democratic fundraiser. “She’s going to drive support for candidates and energize people.”
If Biden steps down, Harris will receive the funds her campaign raised.
Biden has nearly $200 million in cash on hand, but sources close to the campaign say he aims to raise more than double that amount. But fundraising has slowed since his disastrous June 27 debate defeat. suffered a serious blow.
Some donors are reluctant to replace Biden because they fear they could lose influence over the White House if he and his advisers are replaced, one source said.
“The reason people are such enthusiastic supporters is because they have ties to the White House. That’s where most of the big money people are looking,” the source said.
The campaign did not respond to a request for comment.
Political risk firm SignUp Global told investors on Thursday that the likelihood of Biden withdrawing had risen to 65% from 40% a day earlier. The firm noted that pressure from lawmakers combined with dismal polls — which are expected to get worse — would force Biden to withdraw.
Meanwhile, calls for Biden to resign continue to grow among Democrats in the House and Senate.
