According to a Politico report, top Democrats are concerned that President Biden’s plummeting popularity is causing high-dollar donors to withhold campaign cash.
The money train stopped after Biden’s disastrous debate performance.
From Politico:
Some fundraisers have been canceled, while some donors have threatened to withhold donations until the president drops out, according to the people, who were granted anonymity to discuss internal party matters.
The problem isn’t limited to the party’s big-donor class. Small-dollar fundraising has also dipped in recent days, according to one person with direct knowledge of the internal campaign data. The campaign is now projecting that grassroots fundraising will drop at least 20 to 25 percent over the rest of the month, according to this person.
“This is a massive, massive problem,” the person said. “Right now, we should be scaling up, doubling and tripling our goals as we head into the fall. But we’re cratering.”
More over at Politico:
NEWS – Biden faces anger among high-dollar donors, threatening to withhold money until he steps aside.
But also small-dollar problem.
Projections that grassroots fundraising will drop at least 20-25% this month.
“This is a massive, massive problem." https://t.co/8tjmxZodtr
— Elena Schneider (@ec_schneider) July 11, 2024
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