REPORT: Biden’s Speech Announcing He's Dropping Out of Race Has Already Been Written

Newsmax’s Mark Halperin reported on Thursday afternoon that President Biden is set to withdraw from the 2024 presidential race. He won’t be endorsing Vice President Kamala Harris, but will instead advocate for an open convention in Chicago.

"According to my sources, President Biden has agreed to step down as a Democratic nominee,” Halperin told “Frontline” host Carl Higbie. "It will happen as early as this weekend. A speech has been drafted for him. He will continue on as president, is his intention. He also will not, I'm told, endorse Vice President Harris as his successor. They're hoping that he will endorse an open process in which the convention will be open to Vice President Harris and a few other candidates in Chicago to pick the Democratic nominee for president."

Halperin mentioned that Vice President Harris is considering potential running mates for a full ticket at the Chicago convention, with possibilities including Kentucky Governor Andy Beshear and Pennsylvania Governor Josh Shapiro.

"Other possible candidates who are being talked about include Gavin Newsom, the governor of California, perhaps Gretchen Whitmer, and again the vice president running,” Halpern continued.

Halperin explained that if an open convention occurs, the agreement being discussed by Joe Biden and top Democrat officials would allow regular delegates to vote on the first ballot. If no winner emerges from the first ballot, the super delegates would then be permitted to vote on subsequent ballots.

"This decision was reached, I'm told, all of a sudden because of the high-level pressure from Nancy Pelosi, Barack Obama, and others, as well as the decision of many of Biden's top aides, that there was no path forward for him, that he would not be able to win this election, win the general election, and therefore he's stepping aside again as early as this weekend,” Halperin said.

Higbie questioned Halperin about the potential political fallout for a party that prides itself on diversity if Biden bypasses endorsing Kamala Harris. Halperin reported that while Biden will likely praise Harris, he will avoid endorsing her to prevent what some are calling a "Kamala coronation."

For our VIPs: What Happens If Joe Biden Drops Out?

"I'm told by some of her people, I don't know that the vice president thinks this, but some of her people believe she will win this, that she'll choose a strong running mate, that she does have the support of many of the delegates who are Biden Harris delegates, and that she can win this basically on her own,” Halperin said.

Higbie then raised the issue about Biden's substantial campaign war chest, asking how funds will be managed if Harris isn’t the nominee. Halperin responded that different types of funding are available, and a new ticket could invigorate the party, attracting both small and large donors. Recent indications from major donors show a reluctance to back Biden, but they are expected to support a new ticket, regardless of whether or not it includes Harris.

NEW — "According to my sources, President Biden agreed to step down as the Democratic nominee. It will happen as early as this weekend..."

- Mark Halperin on Newsmax just now pic.twitter.com/89vkN7VV0Q
— Townhall.com (@townhallcom) July 18, 2024

Is this report true? Are Halperin’s sources reliable? We’ve had reports suggesting that Biden was close to dropping out before and they didn’t pan out. Ultimately the decision to drop out is Biden’s, and I still don’t know what’s going to happen.

The question to ask right now is whether other networks are independently reporting the same thing.