Democratic donors push to raise $100million to back new candidate as calls for Biden to step aside mount

Some Democratic donors are attempting to raise $100 million to back a new candidate as calls for President Joe Biden to drop out of the presidential race grow.

The push for Biden to step aside comes after his dismal debate performance where he lost his train of thought, appeared confused and made several gaffes.

In a discussion with Democratic governors at the White House on Wednesday, Biden tried to calm the nerves of his party, saying that he was staying in the race and his debate performance was due to a grueling travel schedule in the weeks ahead of the debate preparation sessions.

Biden reportedly told the governors that he needed to work less, sleep more, and limit events after 8pm.

A number of Democratic donors are now trying to use their wealth to urge Biden to step down. There are several initiatives underway to open up the field to another candidate, according to The New York Times. 

The efforts could have an effect on down-ballot races in time, but donors are currently focused on their efforts on changing the top of the ticket.

The $100 million is intended for an escrow-type of fund, called Next Generation PAC, which would be used to back another candidate. The funds could be used for down-ballot races if Biden remains atop the ticket.

The unnamed donors’ hopes are small compared to the current president’s war chest. Last month, the Biden campaign raise $127 million. The Biden campaign said it raised $264 million in the second quarter while the Trump campaign said it raised $331 million. In the first quarter, Biden raised more than $187 million.

Backers of possible replacements, including Vice President Kamala Harris, are now trying to get themselves in pole position, while some donors are threatening to hold