What Happens to Biden’s Money If He Steps Aside?

WaPo’s answer, amid growing whispers that the President may be coming to terms with reality:

If Biden withdraws from the race, the dollars in his campaign account are considered “excess campaign funds” that can be contributed to the Democratic National Committee or to an independent expenditure committee. But if he withdraws before he is the official nominee of the party, he could face limits in donating to other candidates.

Some Democratic lawyers and operatives, who spoke on the condition of anonymity to discuss internal discussions, argue that because Kamala Harris’s name is on the paperwork filed with the Federal Election Commission to set up the committee, Biden could hand control of the account to Harris if he were to step aside. But several Republican campaign finance lawyers noted that that legal theory has not been tested. Prominent Republican lawyer Charlie Spies recently argued in the Wall Street Journal that both Biden and Harris would have to be officially nominated by their party before a handoff of the account could occur.

If the Democratic Party chooses a nominee who is someone other than Harris, the Biden campaign could still transfer its funds to the DNC or a super PAC that intends to back the new ticket.

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