Joe Biden speaks at The Queen Theater on November 5, 2020 in Wilmington, Delaware.
Drew Angerer | Getty Images News | beautiful images
Joe Biden’s transition team will have several million dollars to work with as this team together lays the foundations of a potential Biden administration, comprised of Cabinet members.
NBC News did not issue a call in the presidential race.
Biden̵7;s conversion team, according to those who have reported the matter, is on track to go well beyond its initial fundraising target of at least $ 7 million. These people refused to name to speak freely.
News of the financial race comes as President Donald Trump continues to fight to win the election, even though Biden has more paths to victory.
The transition team is responsible for helping select and confirm presidential-elected nominations for leadership positions in government, such as the Secretary of the Treasury and attorney general. The money raised for the transition fund is usually used for salary and other needs.
According to these people, some of the Biden transformation fundraising has been carried out by Penny Pritzker, a former Secretary of Commerce under President Barack Obama and a backer of Biden. According to Forbes, she has a net worth of more than $ 2 billion and is part of the wealthy Pritzker family that includes Illinois Governor JB Pritzker.
Penny Pritzker is also listed as one of Biden’s top vendors who helped raise more than $ 100,000 for the campaign. The transition team has been raising money since late summer.
Other people helping to raise money include lobbyists, media and public relations operators, and Wall Street financiers, who added.
Biden’s campaign itself has not taken money from lobbyists since the former vice president jumped into the race last year. Those from the influential industry, however, got in touch with several of the campaign’s business advisors in preparation for a probable Biden position.
The successful fundraising has allowed the group to hire a group of legislative issues, which will help guide any Biden nominated candidate through the Senate, one of the residents explained. They held private calls with their allies about how the nomination process was, depending on who controlled the Senate.
They have also selected a range of legal advisors that can advise Biden nominees.
A Biden transition spokesperson declined to comment.
If Biden wins, his picking a certain number of posts could have an impact on the market and the business community as a whole. That is especially true of his choices to lead the Treasury and the National Economic Council.
The GOP-controlled Senate could be a potential hurdle for Biden’s candidates. It could hinder Biden’s team from reviewing and selecting progressive leaders for key roles. Republicans currently have a 53-47 advantage in the Senate. After Election Day, Democrats and GOP are expected to hold at least 48 seats each in the next Congress. Four races have yet to be decided, including two in Georgia, one in North Carolina and one in Alaska.
While that may seem unlikely, progressive Senator Elizabeth Warren does not seem necessarily to be completely uncontested about being selected for the Treasury Department.
Biden “likes her,” a person close to the former vice president said when asked if Warren is still considered able to lead the Treasury.
However, the person added that people around Biden are watching the rest of the Senate races, including at least one in Georgia that is expected to be on the way.