Why is everyone acting as if she’s an heir or something? All delegates to the convention have already been elected. If Biden steps down, they can vote for whoever, and Dem party rules state that the superdelegates can’t jump in until the 2nd vote if no one wins the first.
What Happens to Biden’s Campaign Money if He Drops Out?
It depends on who the new Democratic nominee is, says Saurav Ghosh, the director of federal campaign finance reform at the Campaign Legal Center.
The simplest option from a campaign finance standpoint would be to nominate Vice President Kamala Harris, because “if Harris remains on the ticket, as either the presidential or vice-presidential candidate, the new ticket would maintain access to all the funds in the campaign committee,” says Ghosh.
This is “[b]ecause Biden and Vice President Harris share a campaign committee,” Ghosh says, as both names appear on Biden’s statement of candidacy and statement of organization to the Federal Election Commission.
However, if a new Democratic ticket did not include Biden or Harris, then things would become “more complicated,” Ghosh said.
Since $2,000 is the limit to transfer money between federal campaign committees per election cycle, Ghosh said, the Biden campaign couldn’t legally contribute all of its campaign money to a new candidate.
Instead, “Biden’s campaign would have to offer to refund the money to donors, who could then contribute to the new candidate’s campaign,” or “transfer an unlimited amount to the DNC, which could then spend the money supporting the new presidential nominee, and up to $32.3 million of that spending could be coordinated with the new nominee,” said Ghosh.
This is absolutely not true. The DNC can do whatever the fuck they want with presidential campaign money. It’s a donation to a private organization. There’s no contract unless a big donor insists.
The best way to facilitate the spread of misinformation, THE critical war which humans are loosing at an increasingly fast rate, is to post the wrong answer on the internet. And, you got a low quality answer because it’s coming also with emotion.
It’s a cute meme. But, you’re not serving yourself or the community as well as you could if you simply frame it as a question.
As an example here’s what was missing from the higher quality answer you deserved:
Donations can be made to candidates. But, the vast majority is made to the national committees, then allocated to presidential and down ballot campaigns. This is one way individual candidates are held ideologically hostage to the changing whims of corporations.
In the future please just ask questions. We don’t need a community for that on Lemmy… yet.
I couched my comment with the caveat that it was unsubstantiated and it then generated a lot of discussion. Your comment itself is unsubstantiated and really just makes you sound like a cob. Is money donated to a party theirs to use anyway they want? The answer appears to be kinda, maybe, but it depends.
Why is everyone acting as if she’s an heir or something? All delegates to the convention have already been elected. If Biden steps down, they can vote for whoever, and Dem party rules state that the superdelegates can’t jump in until the 2nd vote if no one wins the first.
I heard somewhere that all the money raised for the Biden/Harris campaign would stay with Harris if she ran for president.
I don’t know if that’s true, or what would happen to the money if they both drop out but I heard someone say that.
From https://www.usnews.com/news/national-news/articles/2024-07-19/what-happens-to-bidens-campaign-money-if-he-drops-out
What Happens to Biden’s Campaign Money if He Drops Out?
It depends on who the new Democratic nominee is, says Saurav Ghosh, the director of federal campaign finance reform at the Campaign Legal Center.
The simplest option from a campaign finance standpoint would be to nominate Vice President Kamala Harris, because “if Harris remains on the ticket, as either the presidential or vice-presidential candidate, the new ticket would maintain access to all the funds in the campaign committee,” says Ghosh.
This is “[b]ecause Biden and Vice President Harris share a campaign committee,” Ghosh says, as both names appear on Biden’s statement of candidacy and statement of organization to the Federal Election Commission.
However, if a new Democratic ticket did not include Biden or Harris, then things would become “more complicated,” Ghosh said.
Since $2,000 is the limit to transfer money between federal campaign committees per election cycle, Ghosh said, the Biden campaign couldn’t legally contribute all of its campaign money to a new candidate.
Instead, “Biden’s campaign would have to offer to refund the money to donors, who could then contribute to the new candidate’s campaign,” or “transfer an unlimited amount to the DNC, which could then spend the money supporting the new presidential nominee, and up to $32.3 million of that spending could be coordinated with the new nominee,” said Ghosh.
This is absolutely not true. The DNC can do whatever the fuck they want with presidential campaign money. It’s a donation to a private organization. There’s no contract unless a big donor insists.
I wondered…
Yet, you never asked.
I just did. The way to get the correct answer on the internet is psot the wrong answer.
The best way to facilitate the spread of misinformation, THE critical war which humans are loosing at an increasingly fast rate, is to post the wrong answer on the internet. And, you got a low quality answer because it’s coming also with emotion.
It’s a cute meme. But, you’re not serving yourself or the community as well as you could if you simply frame it as a question.
As an example here’s what was missing from the higher quality answer you deserved:
In the future please just ask questions. We don’t need a community for that on Lemmy… yet.
I couched my comment with the caveat that it was unsubstantiated and it then generated a lot of discussion. Your comment itself is unsubstantiated and really just makes you sound like a cob. Is money donated to a party theirs to use anyway they want? The answer appears to be kinda, maybe, but it depends.
Because these are Democrats, and no one expects them to have primaries anymore.