Biden Faces Donor Pressure Amidst Re-Election Campaign Challenges

President Joe Biden is under significant pressure from major Democratic donors as he navigates a critical phase in his re-election campaign. Some donors have publicly warned they will withhold funds unless Biden is replaced as the party’s candidate, following his poor debate performance last week.

Friday marks a crucial day for Biden, who aims to bolster his candidacy with a rare primetime TV interview and a rally in Wisconsin. The 81-year-old president has faced increasing calls to step aside after a debate where he frequently lost his train of thought. Despite admitting he “screwed up,” Biden remains determined to challenge Donald Trump in the upcoming November election.

Scrutiny on Biden’s public appearances has intensified since the debate. During a White House speech to military families on Independence Day, he stumbled over his words, referring to Trump as “one of our colleagues, the former president.” Additionally, in a WURD radio interview, he appeared confused, mistakenly claiming pride in being the first black woman to serve with a black president.

Several donors have expressed doubts about Biden’s viability against Trump. Abigail Disney, an heiress to the Disney family fortune, told CNBC she did not believe Biden could win and planned to withdraw support based on “realism, not disrespect.” Philanthropist Gideon Stein and Hollywood producer Damon Lindelof have also indicated their intent to withhold substantial donations unless Biden steps aside.

Hollywood agent Ari Emanuel emphasized at a Colorado conference that withholding funding might be the only way to prompt Biden’s exit from the race. Ramesh Kapur, a long-time Democratic fundraiser, echoed this sentiment, suggesting it is time for Biden to “pass the torch.”

Despite these pressures, some donors remain committed to Biden, concerned about the limited time for a new candidate to enter the race. An unnamed mega-donor plans to proceed with a fundraiser for Biden later this month.

The Biden campaign reported raising $38 million from debate day through the weekend, primarily through small donations, and a total of $127 million in June. Acknowledging the difficult debate, the campaign has announced an “aggressive travel schedule” to demonstrate Biden’s stamina. Starting with a rally in Madison, Wisconsin, Biden will also participate in an ABC interview to address concerns about his age and mental faculties.

However, Biden faces negative polls indicating a growing lead for Trump. A New York Times poll shows Trump with a six-point lead, and a CBS News poll indicates a three-point advantage in key battleground states.