Megadonors pull plug on plan for anti-Sanders super PAC as Biden racks up wins [View all]

Joe Biden’s recent string of primary victories appears to have satisfied wealthy donors who were discussing the creation of a super PAC aimed at pushing Sen. Bernie Sanders out of the race.

Instead, it appears they will hold off on engaging in an all-out assault on Sanders, a self-described democratic socialist who shuns wealthy donors.

As recently as last week, a handful of big money donors, some of whom work on Wall Street, were contemplating creating a political action committee whose sole purpose would be try to knock Sanders out of the race, according to people with direct knowledge of the matter. They declined to be named as these conversations were deemed private.

The proposed goal was to raise at least $20 million to pay for ads and operational costs, these people noted. A super PAC allows organizers to raise and spend unlimited amounts.

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https://www.cnbc.com/2020/03/16/democratic-primary-donors-drop-plan-for-anti-sanders-super-pac-as-biden-cruises.html