Kamala Harris set to inherit $240m Democrat funds if Biden drops out

Kamala Harris is poised to take Joe Biden’s place if he drops out of the presidential race — in part because she’s the only person who can take control of the Democrats $240 million war chest, sources told The Post.Many prominent democrats are waiting in the wings to take the ailing 81-year-old’s place, but the quarter billion Biden-Harris have raised is non-transferrable, campaign finance sources told The Post.“Biden has two real choices: Kamala inherits; or they transfer it all to the DNC,” Signum Global partners Rob Casey told The Post.“That money would all be accessed by Kamala… anyone else would be on their own for fundraising.”Even if Biden wanted to, campaign finance sources say giving the money to another candidate — like California governor Gavin Newsom or Michigan governor Gretchen Whitmer, whose names have been mentioned as possible replacements — would prove sticky. That’s because only Biden and Harris are named in the federal paperwork for the campaign which donors gave money to, which amounts to the lion’s share of the money raised. Legal sources note Biden, like every other individual, is still subject to campaign finance laws that cap donations at $3,300 to each candidate in a general election.

Even the DNC is limited to just a $5,000 contribution to each candidate.And some democrats told The Post it’s a “tragedy” that even if it were Kamala on the ballot, they’re stuck with a candidate “no one wanted,” a source told The Post.“The tragedy for the democrats is they were so focused on identity politics they picked someone no one wanted who checks a box,” one democratic donor close to the situation told The Post. “Had they focused on performance politics they would be in a terrific situation… but I don’t think she can win.”On a Sunday call with donors the campaign said, in the event of Biden stepping down, the fund would be directed to Harris.Following Biden’s disastrous, bumbling debate appearanc...