What happens to Joe Biden’s campaign funds?

According to the most recent Federal Election Commission filings, Biden’s campaign began in July with $96 million after spending $243 million by the top of June. That doesn’t include funds from the Democratic national party apparatus and allied political motion committees.

But fundraising in July was likely slow at first, with major donors anxious about Biden’s electoral probabilities after his disastrous performance at the controversy in late June, and plenty of reportedly refraining from making further donations unless he dropped out of the campaign.

Meanwhile, Donald Trump has quickly closed the financial gap he had with Biden earlier this 12 months and could have seen a lift after last week’s assassination attempt. According to the FEC, Trump’s campaign team had $128 million within the bank at the top of last month.

Vice President Kamala Harris, who has endorsed Biden as his successor, has the best access to campaign money. Biden’s fundamental campaign committee modified its name on Sunday from “Biden for President” to “Harris for President,” in line with a Letter to the FEC.

Because Biden and Harris have a joint campaign committee, she will be able to proceed to make use of existing funds for the overall election if she is on the Democratic ballot as a presidential or vice presidential candidate, in line with a Sunday Notes by Trevor Potterformer chairman of the FEC and current president of the Campaign Legal Center.

“The withdrawal of a major party’s presumptive nominee months before Election Day is not an everyday occurrence, but it is not a crisis either,” he wrote, adding that there are Democratic Party and FEC rules that dictate where the cash can go.

If Harris is just not on the ballot, campaign committees will probably be subject to federal rules that limit donations between candidates to $2,000 per election, Potter explained.

The Biden campaign could also refund its donors or transfer its funds to the national Democratic Party or state parties, he said. Committees could then spend a number of the funds in coordination with the ultimate nominee.

Aside from Biden’s campaign money, Harris herself is in for an enormous win. A nomination won’t be official until the DNC, and Harris said Sunday she intends to “earn and win that nomination.” Top Democratic donors Alex Soros and Reid Hoffman has already pledged support to Harris.

Other donors told the New York Times On Sunday, they immediately began campaigning for her; a Silicon Valley donor raised greater than 1,000,000 dollars in only half an hour.

Meanwhile, Gretchen Sisson, a number one Democratic coalition partner and Harris supporter, told the Just that her phone “explodes”.

“Many people are asking where they can donate, what they can do to support the campaign and want to write more. People who were engaged but worried are now excited and energized,” she said.