US Presidential Election: What will happen to the $91.5 million that Joe Biden has collected? Can Kamala Harris get it? Details here
Joe Biden has pulled out of the US Presidential Election 2024 and endorsed Vice President Kamala Harris. The first vice president of the Indian- African descent is most likely to be nominated as the Democrat candidate for the November 5 election. However, a fundamental question in the US political system is: What will happen to the millions of dollars the incumbent president has collected as campaign funds? Will Kamala Harris get it? Will it be refunded to the donors? Will it go to the Democratic Party coffers? Or can Joe Biden take it for his personal use?
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Joe Biden collects $91.5 million
In an opinion piece published in 'Fox News', a former member of the Federal Election Commission, Hans von Spakovsky, wrote that Biden’s campaign committee had «cash on hand» of $91.5 million by the end of May. What will happen to this huge amount of money?
Will Kamala Harris get campaign funds?
Experts believe that Kamala Harris can get the entire money because when the 'Biden for President' committee filed its registration statement with the FEC, it registered itself as the «principal campaign committee» for both Joe Biden and Kamala Harris.
<div data-placement=«Mid Article Thumbnails» data-target_type=«mix» data-mode=«thumbnails-mid» style=«min-height:400px; margin-bottom:12px;» class=«wdt-taboola» id=«taboola-mid-article-thumbnails-111932807»>Could campaign funds go to the Democratic Party?
According to the FEC regulation 11 CFR 113.2, funds can be transferred from a candidate committee to a party committee. So, the entire amount of $91.5 million
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