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Originally Posted by savemedrzaius
If a new candidate was chosen would all the money donated to Biden from rich folk and corporations be transfered over to the new guy?
I feel like the main reason the Dems can't ditch Biden is because of all the powerful people who have been buttering up Biden and his team with $. If they get a new candidate he might have his own people who need the wheels of government to be greased. Sunk-cost fallacy in action.
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I saw this discussion in CNN this past weekend. The answer is no. The donations are in an account, or whatever, that has Biden and Harris as signatories. So if Biden was to drop out and Harris ran she would have access to the money. If it was a new candidate, Biden could transfer the money to a PAC and use that for advertising for the campaign but the issue there is that the PAC can't directly coordinate with the candidates team/campaign. The last option is to just turn it over to the DNC and they use it for supporting the candidate.