Disney heiress, wealthy Democratic donors say they won't finance the party until Joe Biden drops out

• Abigail Disney, an heiress to the Disney family fortune, plans to withhold donations to Democrats until Joe Biden drops out.
• Biden has said he has no plans to drop out of the race.
• Gideon Stein said he's decided to pause planned donations of $3.5 million.

President Joe Biden is facing an uprising from some his own party's wealthy donors, including an heiress to the Disney family fortune, who say they will no longer fund the Democratic Party until Biden drops out of the presidential race following his disastrous debate performance.

Abigail Disney, the granddaughter to Roy O. Disney, who cofounded The Walt Disney Company, told CNBC on Thursday that she plans to withhold donations to the party she has funded for years until Biden drops out. The president has said he has no plans to withdraw from the race, despite calls for him to do so.

"I intend to stop any contributions to the party unless and until they replace Biden at the top of the ticket.  This is realism, not disrespect. Biden is a good man and has served his country admirably, but the stakes are far too high," Abigail Disney said in a lengthy statement to CNBC. "If Biden does not step down the Democrats will lose. Of that I am absolutely certain. The consequences for the loss will be genuinely dire."

The Democratic Party at large has been in a state of panic since Biden struggled to perform in the debate against former President Donald Trump last week. Rep. Lloyd Doggett, D-Texas, called on Biden to drop out of the race, suggesting the debate performance proved to voters that the president is incapable of taking on Trump and unable to overcome his distance in the polls.

A New York Times/Sienna College poll taken after the debate showed Biden behind Trump by 6