House Dems look to oust Biden—leaving Kamala to inherit $240 million in donations and the presidential campaign

Following Biden’s dismal performance at CNN’s presidential debate Thursday, a group of at least 25 House Democrats are preparing to call for Biden to step aside. Calls for Biden to step down or end his reelection bid have come from all ends of the political spectrum, including Democrat-run news outlets and pundits.

One House Democratic aide told Reuters that there are at least 25 House Dems preparing to call for Biden to step aside in the coming days. The New York Post reported that centrist House Democrats, in competitive districts at risk of losing their seats come November, are considering writing a letter to Biden to express their alarm.

These moderate House Democrats have also been receiving numerous questions from constituents in their districts this week, a second House Democratic aide told Reuters. "It looks like the dam has broken," the aide said.

This comes as Rep Lloyd Doggett became the first congressional Democrat to call for Biden to end his 2024 bid on Tuesday. Former Ohio Rep. Tim Ryan also noted in an op-ed that Biden should step aside and Vice President Kamala Harris should be the nominee.

If Biden were to leave the race, Harris would be the only one that could take control of the $240 million raised for the Biden campaign. Those funds raised by the Biden-Harris campaign are non-transferrable, as only Biden and Harris are listed in the federal paperwork for the campaign to which donors gave money, campaign finance sources told the New York Post. The sources added that giving money to another candidate, like California Governor Gavin Newsom, would be difficult. 

"Biden has two real choices: Kamala inherits; or they transfer it all to the DNC," Signum Global partners Rob Casey told the outlet. "That money would all be accessed by Kamala … anyone else would be on their own for fundraising."

This comes as Democrats are reportedly dissatisfied with Harris, with one Democrat donor close to the situation telling the outlet that "the tragedy for the Democrats is they were so focused on identity politics they picked someone no one wanted who checks a box."

"Had they focused on performance politics they would be in a terrific situation… but I don’t think she can win."