patrick.net

Some major Democratic donors have told the largest pro-Biden super PAC, Future Forward, that roughly $90 million in pledged donations is now on hold if President Biden remains atop the ticket, according to two people who have been briefed on the conversations.

The frozen contributions include multiple eight-figure commitments, according to the two people, who spoke on the condition of anonymity given the sensitivity of the situation. The decision to withhold such enormous sums of money is one of the most concrete examples of the fallout from Mr. Biden’s poor debate performance at the end of June.

Future Forward declined to comment on any conversations with donors or the amounts of any pledged money being withheld. A Future Forward adviser would say only that the group expected contributors who had paused donations to return once the current uncertainty about the ticket was resolved. One donor to the group described being approached multiple times by Future Forward since the debate for a contribution, but said he and his friends had been “holding off.”

The two people briefed on the frozen pledges declined to say which individual donors were pulling back promised checks, which were estimated to total around or above $90 million. It was not clear how much of the pledged money was earmarked for Future Forward’s super PAC versus its nonprofit arm, which has also been running advertising in key battleground states. One person affiliated with Future Forward said the group was shying away from making major decisions and in a defensive crouch until it had clarity about who would lead the Democratic ticket.
https://dnyuz.com/2024/07/12/donors-tell-pro-biden-super-pac-roughly-90-million-in-pledges-is-frozen/