“It has been the greatest honor of my life to serve as your President. And while it has been my intention to seek reelection, I believe it is in the best interest of my party and the country for me to stand down and to focus solely on fulfilling my duties as President for the remainder of my term,” said Biden.
The President said he will be speaking to the nation “later this week in more detail about my decision”.
The widely-expected decision comes after intense pressure from Democratic leaders, organisers, and donors who saw limited prospects of winning with Biden as the nominee due to concerns over the 81-year-old president’s age, health, and declining popularity.
Biden’s poor debate performance and inconsistent public appearances fueled doubts among voters about his ability to serve another term.
Biden’s withdrawal will trigger a complex process, with the party potentially needing to adjust its nomination procedures and navigate legal challenges at the state level.
Here’s the full text of his statement
My Fellow Americans,
Over the past three and a half years, we have made great progress as a Nation.
Today, America has the strongest economy in the world. We’ve made historic investments in rebuilding our Nation, in lowering prescription drug costs for seniors, and in expanding affordable health care to a record number of Americans. We’ve provided critically needed care to a million veterans exposed to toxic substances. Passed the first gun safety law in 30 years. Appointed the first African American woman to the Supreme Court. And passed the most significant climate legislation in the history of the world. America has never been better positioned to lead than we are today.
I know none of this could have been done without you, the American people. Together, we overcame a once in a century pandemic and the worst economic crisis since the Great Depression. We’ve protected and preserved our Democracy. And we’ve revitalized and strengthened our alliances around the world.
It has been the greatest honor of my life to serve as your President. And while it has been my intention to seek reelection, I believe it is in the best interest of my party and the country for me to stand down and to focus solely on fulfilling my duties as President for the remainder of my term.
I will speak to the Nation later this week in more detail about my decision.
For now, let me express my deepest gratitude to all those who have worked so hard to see me reelected. I want to thank Vice President Kamala Harris for being an extraordinary partner in all this work. And let me express my heartfelt appreciation to the American people for the faith and trust you have placed in me.
I believe today what I always have: that there is nothing America can’t do – when we do it together. We just have to remember we are the United States of America.
Tough task for replacement
Biden’s withdrawal marks a significant moment in American politics, adding to the drama of an already contentious election. Trump recently survived an assassination attempt during a campaign rally in Pennsylvania, underscoring the high stakes of the election.
With Biden out of the race, the Democratic party faces the urgent task of selecting a new nominee at their national convention in August.
Vice President Kamala Harris is as an early frontrunner to replace Biden, given her robust national profile and the limited time before the election. However, her nomination is not guaranteed, and other figures like Governor Gavin Newsom, Governor Gretchen Whitmer, and Illinois Governor JB Pritzker have been mentioned as potential alternatives.
The upcoming convention will see around 4,000 Democratic delegates gathering to decide on a new nominee.
If a new candidate secures the nomination, they will face the challenging task of introducing themselves to voters, shaping a campaign narrative, and taking on Trump in a compressed timeframe.
