What could happen to Biden campaign’s $91 million?

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Ever since his catastrophic performance in the presidential debate, there has been speculation about whether President Joe Biden will stay in the presidential race. Stories are circulating about senior Democrat officials like Sen. Chuck Schumer (D-NY) asking him to drop out of the race due to serious questions about his health and because they don’t believe he can beat former President Donald Trump.

That raises a serious question: now that Biden has dropped out, who would have control over, and what could be done under applicable federal campaign finance laws and regulations with, the campaign funds that have been raised by the official "Biden for President" campaign committee?

As of June 20, when Biden for President filed its latest campaign report summarizing its finances through the end of May with the Federal Election Commission ("FEC"), where I once served as a commissioner, Biden’s campaign committee had "cash on hand" of $91.5 million. Here are a series of questions and answers on what can – and can’t – be done with this money.

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If Biden drops out of the race, can his donors get their contributions back?

There is no requirement in federal law for campaign committees to provide refunds to donors who want to get their