While calls to replace President Biden as the Democratic nominee continue to hamper his reelection effort, campaign finance experts believe financial obstacles could prevent another Democrat from assuming the presidency.
The Biden-Harris campaign has raised huge amounts of money in this race, reporting $127 million in June alone, but there are serious doubts about whether another candidate would be able to inherit those funds if Biden is replaced or withdraws from the race.
While several candidates have emerged as possible successors to Biden, a political fundraiser familiar with presidential campaign finances told Fox News Digital that at present, “only people whose name is Joe Biden or Kamala Harris” have access to funds.
Election law experts told Fox News Digital that VP Harris will likely have access to campaign funds since her name was on the shortlist for the Biden-Harris nomination, but even the vice president could face financial hurdles.
Rep. Clyburn declares support for Kamala Harris as Democratic nominee if Biden drops out: “I’ll support her”
President Biden spoke at a presidential debate in Atlanta last week. (Justin Sullivan/Getty Images)
Federal Election Commission Commissioner Trey Trainor said it was an “open question” whether the funds would be transferred to Harris.
Heritage Foundation is working on election legal issues if Biden loses out on Democratic National Convention nomination
If Biden is replaced as the nominee, the Biden-Harris campaign would be allowed to transfer the funds to the Democratic National Committee, but there would be limitations on how the campaign organization could distribute the money, legal experts told Fox.
Vice President Harris spoke at a campaign rally at South Carolina State University in Orangeburg, South Carolina on February 2. (Brandon Bell/Getty Images)
Trainor said on “The Josh Hammer Show” on Wednesday that given the financial obstacles, Democrats believe they have “no choice but to move forward with President Biden as their nominee because there are just too many obstacles in the way.”
Democratic candidates for Biden’s successor include California Gov. Gavin Newsom, Michigan Gov. Gretchen Whitmer and Transportation Secretary Pete Buttigieg, but experts don’t believe the other candidates would be able to raise money easily.
Click here to get the FOX News app
While members of Biden’s own party have called on him to step down, campaign finance experts who described the situation as unprecedented have concluded that Biden will likely remain the Democratic nominee, even if the final decision comes down to campaign finance issues.
