Biden raised millions for his presidential campaign in Georgia. Where does that money go?
President Joe Biden’s campaign raised more than $400 million nationally, including more than $3 million from Georgia residents and companies, but his decision to drop out of the race means that money will be spent elsewhere.
Residents in Macon and Columbus raised more than $70,000 for Biden’s campaign this year alone, according to OpenSecrets, a nonprofit that tracks political donations in the United States. Columbus-based insurance giant Aflac donated over $830,000 to Democratic candidates.
Jeff Glas, a senior lecturer in political science at the University of Georgia who spent eight years working in campaign fundraising, said the money will likely follow the nomination, and Biden has thrown his weight behind Vice President Kamala Harris.
“Kamala Harris is already on the presidential ticket. She’s already listed on the campaign account,” Glas said. “She should seamlessly be able to access this money if she receives the nomination in the next couple of weeks.”
Harris’ nomination could be secured as early as Aug. 1, when the Democratic National Convention plans to hold a virtual roll call to certify the party’s ticket. Glas said a direct transfer to Harris is expected, but Biden can exercise other options if legal challenges are presented.
“We saw the signal already this weekend. It sounds like a lot of Republicans want to start filing lawsuits,” Glas said. “President Biden can just transfer all that money in one fell swoop to the DNC to become party money.”
Biden could also opt to create a super PAC if he wanted more direct control of his remaining money. A super PAC is a relatively new type of political fundraising, created after the 2010 decision in the Speechnow.org v. FEC case.
“These are social welfare organizations,” Glas said. “They’re permitted to engage in unlimited fundraising and unlimited spending expressly advocating for the election or defeat of candidates under the pretense that what they’re doing is considered social welfare.”
Glas said Biden’s creation of a super PAC is the least likely path the former nominee would take. A slightly more feasible option is the transfer to the DNC, giving it control of the nearly $200 million left in Biden’s campaign fund to distribute however it wanted.
If she receives the nomination, Harris would be entering the presidential race significantly later than the Republican nominee, former President Donald Trump. While that would typically put a candidate at a disadvantage, Glas said Harris is in a unique position.
“She has the name recognition of being a vice president without the baggage of a presidency,” he said. “She probably starts out at a bit of an advantage that open-seat election candidates otherwise wouldn’t have.”
As the Democratic Party sorts out its path forward, Glas said money will be crucial.
“Funding is absolutely essential, campaigns are expensive,” he said. “There’s going to be a lot of it. I imagine several million dollars for the campaign is going to be spent between now and the election.”
This story was originally published July 22, 2024 at 11:27 AM.