Here’s What Could Happen To Biden’s Nearly $100 Million Campaign War Chest

Some experts believe Vice President Kamala Harris could seamlessly take over the Biden campaign’s massive war chest, but the chairman of the Federal Election Commission has doubts the transition will go smoothly.

The Biden campaign’s nearly $96 million in campaign funds could be passed off without a snag if Democrats either nominate Harris or if she remains on the ticket as the vice presidential nominee, former FEC lawyer Saurav Ghosh told Reuters last week. FEC Chairman Sean Cooksey isn’t so certain that the money could go to Harris, however, telling NPR on Monday morning that he thinks “it’s really complicated.”

“What he’s attempting to do is to give his entire committee, the cash and all the assets, over to another person,” Cooksey said. “I expect, there’s probably going to be challenges to that at the agency, and probably in the courts as well.” (RELATED: President Joe Biden Drops Out Of 2024 Presidential Race, Endorses Kamala Harris As Replacement)

A Democratic presidential ticket without Harris, however, would only be able to accept a maximum of $2,000 from the Biden campaign account. The Biden campaign would also have the option of either refunding the remaining cash to donors or donating it all of it to the Democratic Party, according to the FEC.

While the Democratic Party could spend unlimited cash running advertisements or carrying out other operations for its nominee, it could only coordinate about $32.4 million worth of the spending with the Democratic presidential campaign, according to the FEC. Additionally, the party would not be entitled to the heavily discounted television advertising rates made available to candidates during the last 60 days of an election, according to the New York Times.

The party could also use the funds to boost down-ballot Democratic candidates, Heritage Foundation senior legal fellow and former FEC commissioner Hans von Spakovsky wrote Sunday.

“Biden for President could, therefore, transfer all of its cash to the Democratic National Committee, Democratic congressional and senatorial committees and state and local party committees, which could then use the money to support their federal, state and local candidates,” according to von Spakovsky. “Additionally, pursuant to the regulation, it could make donations to ‘State and local candidates subject to the provisions of State law.’”

Republicans may still choose to launch a legal challenge to Harris taking control of the Biden campaign’s cash as the president dropped out of the race before he was formally nominated at the Democratic National Convention, Republican former FEC commissioner Brad Smith told Reuters. “She’s not officially the nominee, right? So it’s not partly her money,” Smith said.

The Biden campaign amended its paperwork on Sunday to list Harris as a candidate for president, according to an FEC filing.

“I am honored to have the President’s endorsement and my intention is to earn and win this nomination,” the vice president said in a statement released shortly after President Joe Biden endorsed her.

All content created by the Daily Caller News Foundation, an independent and nonpartisan newswire service, is available without charge to any legitimate news publisher that can provide a large audience. All republished articles must include our logo, our reporter’s byline and their DCNF affiliation. For any questions about our guidelines or partnering with us, please contact [email protected].