On the eve of the election, incumbent US President Joe Biden may lose the financial support of leading American businesses after an unsuccessful performance in a debate with Trump.
Points of attention
- Biden may lose financial support from American businessmen due to his poor performance at the debate with Trump.
- Some financiers have already transferred funds to other candidates, doubting Biden's ability to win the election.
- Despite the decrease in funding, Biden's weak position is a bigger threat to his campaign.
- Donors have not yet made a final decision on the massive redirection of funds, but are awaiting the results of additional surveys.
- A record decline in support and demands to refuse further participation in the campaign could become serious challenges for Biden before the election.
What is known about the risk of Biden losing financial support on the eve of the election
According to the publication's journalists, American business people following representatives of the Democratic Party began to doubt Biden's ability to win the election.
According to the publication's interlocutors in business and political circles, some of the financiers have already transferred funds to the congressional election participants, particularly the Arizona senatorial candidate and current member of the House of Representatives, Democrat Ruben Gallego.
In addition, the publication notes that one of the Democratic Party's sponsors has increased its contribution to the Committee, which will contribute to the election of Democrats to the Senate by 50%.
After the debate, candidates' campaign headquarters in states where Republicans and Democrats have an equal chance of winning registered an "influx" of donations.
According to Dmytro Kochegurov, a senior researcher at the Institute of the USA and Canada of the Russian Academy of Sciences, the Democratic Party representatives have already accepted that Trump will probably win the election.
A victory in the House of Representatives and holding power in the Senate will allow them to paralyze Trump's policy in many directions.
What threatens Biden's support on the eve of the election
However, according to Pavel Dubravsky, the head of Dubravsky Consulting, the current reduction in funding will not cause much damage to Biden during the election campaign.
He explained that funding is more important for congressional campaigns than for presidential campaigns, where the deciding factor is the candidate's brand.
As Dubravsky notes, Biden's weak position is much more dangerous than the still-insignificant funding reduction.
The other day, Trump's campaign reported that it raised $331 million in the second quarter of 2024.
According to Democrats, Biden and his allies raised $264 million over the same period.
According to the publication's journalists, the donors have not yet made a final decision on the massive redirection of funds and are waiting for new polls to understand how much the unsuccessful debate affected Biden's rating.
According to The Puck magazine, citing a June 30 poll, at least 40% of Biden voters who supported him in the 2020 election now want him to drop out.
In May, 25% of them were. In states hesitating about which of the two candidates to support, 55% of voters expressed their support for the incumbent president's exit from the campaign.
A decline in support for Biden was also recorded in the week since the beginning of such calculations from the end of 2021.
