butters
High on a Hill
- Joined
- Jul 2, 2009
- Posts
- 85,739
From what I understand this is a very, very gray area. The money that is in Biden's Coffer cannot be directly handed to Harris. . .they think. I had been casually following this since I didn't think it would happen I did not prioritize it. Her being on the ticket already and this having never happened before means nobody REALLY knows.
They CAN dump the money into the general fund however and spend it as they wish.
i found this on it:
https://www.marketwatch.com/story/biden-has-quit-where-does-his-campaign-money-go-now-367602c0
If Kamala Harris becomes the presidential nominee
Would Harris automatically inherit all of Biden’s campaign money?
Because Biden and Harris were running on one ticket, Harris is entitled to all the campaign’s money for her presidential run, according to Kenneth Gross, senior political law counsel at Akin Gump and former associate general counsel for the Federal Election Commission.
“All she would do is change the statement of candidacy” and the money becomes hers, Gross said.
What if Biden donors don’t like the new ticket? Can they get their money back?
You can always ask for a refund on campaign contributions, said Robin Kolodny, a political science professor at Temple University and campaign finance expert.
If there is a completely new ticket
Could a new candidate inherit Biden’s campaign money?
No, because Biden and Harris have both been removed from the ticket, the new Democratic candidates have no claim to the Biden-Harris campaign money, according to Gross.
“If there’s a new ticket entirely, then those funds are still in control of Biden-Harris but they can’t be transferred to a new campaign … What they could do is give it to an independent expenditure or a super PAC dedicated to supporting the party, or they could give it to the DNC,” Gross explained.