President Joe Biden is reportedly struggling to raise the capital required to establish a presidential library, The Wall Street Journal reported Wednesday.
Since Franklin Delano Roosevelt, former presidents have privately built libraries where their personal and presidential letters are stored. Now, Biden is allegedly running into challenges raising between $200 million and $300 million, which his allies think will be necessary for him to establish his own, according to the WSJ.
The problem stems, in part, from Biden’s weakness as a fundraiser, with the president reportedly unwilling to partake in fundraising tactics such as inviting mega-donors to spend the night at the White House, the outlet reported. Some donors have stated they won’t make decisions until the result of the November election is clear, with some also noting continued animosity and confusion due to Biden’s early exit from the 2024 presidential race and his short-lived re-election campaign more broadly.
Biden’s top aide Steve Richetti, once described by Politico as the president’s “sherpa,” has taken a leading role on the library project, according to the WSJ.
Biden claimed his alma maters Syracuse University and the University of Delaware are “competing” to be the chosen location of the library, along with several other institutions, according to a transcript of an interview Biden gave to Special Counsel Robert Hur. Officials from the University of Pennsylvania — the Ivy League university that four of Biden’s grandchildren and his deceased son Beau attended — purportedly have also had discussions about hosting the center, the WSJ reported.
The fundraising challenges for his presidential library would not be the first time Biden has run into issues with winning over donors, with Democratic mega-donors like Abigail Disney pulling their financial support for the president after his disastrous June debate performance.
The White House did not immediately respond to a request for comment.
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