Following President Joe Biden's announcement that he will not seek reelection, Democratic donors have expressed relief and enthusiasm for the future of fundraising efforts within the party.
One source involved in the campaign's fundraising arm stated that President Biden's decision was the right one, anticipating that big donor money would start flowing again. The source praised Biden's selfless act, believing it will ultimately benefit the republic. The response from donors since the announcement has been described as uniformly positive, with an influx of financial support expected.
Another source close to Democratic donors described the reaction as an 'avalanche of money,' indicating a strong surge in contributions following the news of Biden's decision.
Longtime Democratic donor Stephen Cozen, who considers the president a friend, expressed pride and gratitude for Biden's willingness to prioritize the country's best interests over personal ambition. Cozen affirmed his support for Vice President Kamala Harris as the Democratic nominee, emphasizing that she already has a significant portion of his financial backing. He pledged to continue raising funds and contributing to her presidential campaign.
Cozen's endorsement of Vice President Harris reflects a growing sentiment among Democratic donors, signaling a shift in focus towards supporting her candidacy moving forward.
