The $95 million question: Where will Biden’s campaign funds go?

(France24)- President Joe Biden withdrew from the race with a large bank account for his re-election campaign. Democrats supported his Vice President Kamala Harris as his successor in the race and the funds raised so far were transferred to the new campaign, however, Republican candidate Donald Trump legally challenged this transfer and guaranteed that it was illegal for Harris to obtain the presidency. Fund your campaign for the White House.

Joe Biden, 81, who is in a tight race against former President Donald Trump, endorsed Vice President Kamala Harris after she ended her reelection bid and Harris quickly took control of Biden’s campaign account.

The Democratic campaign reported to the Federal Election Commission (FEC) on Saturday that it had $95 million in the bank as of the end of June, which is a large sum, although it is less than the $128 million that the Trump campaign reported to the FEC.

Since then, donations to Harris’ campaign have surged, reaching a record $250 million in contributions.

Can Harris control the money?

After Biden dropped out of the race, the campaign immediately filed forms with the Federal Election Commission, removing Biden’s name from registration documents and changing the official name of the presidential campaign account from “Biden for President” to “Harris for President.”

Donald Trump’s campaign told the Federal Election Commission on Tuesday that the transfer amounted to a “blatant money grab.” But legal experts say Harris is likely to maintain control of the money even if Trump’s legal challenge is successful.

Some campaign finance experts see merit in the challenge because Biden is the only presidential candidate holding a fundraiser during the period.

“This was brought in his name,” said Charlie Spies, a prominent Republican campaign finance lawyer.

However, Saurav Ghosh, an attorney at the nonpartisan watchdog group Campaign Legal Center, said that because Harris is already part of “Biden for President” as the vice presidential candidate, her claim for the money should be guaranteed.

“Anyone who questions the legitimacy of this movement has no chance of success,” Ghosh said.

However, Spies and Ghosh agreed that it is unlikely that election regulators will be able to resolve the issue before the Nov. 5 presidential election.

What would stop Democratic candidates from maintaining donations?

Harris appears to be on track to secure the Democratic presidential nomination, but if her campaign fails, the new Democratic candidate will only be able to accept a few thousand dollars directly from the former Biden campaign account.

Harris can choose to return the donations to donors or transfer an unlimited amount of the funds to the Democratic Party, which can use the money to support that party’s candidates.

Not all of this spending can be coordinated with the new candidate’s campaign, and the party could face higher costs than the campaign alone.

Author: Reuters