A group of Democrat strategists and donors is attempting to bring money into a new PAC in order to help an alternative presidential candidate should Joe Biden drop out of the race, according to The New York Times.
Next Generation PAC is trying to raise up to $100 million to support the potential alternative candidate who replaces Biden. If Biden does not drop out, that money would be used for downballot candidates.
The PAC is being led by cryptocurrency investor Mike Novogratz. Novogratz had supported Rep. Dean Phillips, D-Minn., in the Democratic primary.
People connected to the Biden campaign have urged anyone involved with the PAC not to join, as Biden has insisted that he will not be dropping out of the race.