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After weeks of intense pressure and heightened scrutiny from his fellow Democrats in the wake of a disastrous presidential debate, President Biden has ended his 2024 re-election campaign.

“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,” Biden stated in a letter posted to X.

“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.”

Read Biden’s full letter below. 

From The New York Post:

The nearly 4,000 delegates pledged to Biden have only five weeks or so to rally around a new candidate, as a virtual roll call to formally nominate Biden before in-person proceedings begin at the Democratic National Convention in Chicago is expected to be finalized by Aug. 7.

Vice President Kamala Harris, California Gov. Gavin Newsom, Michigan Gov. Gretchen Whitmer, Illinois Gov. JB Pritzker, Kentucky Gov. Andy Beshear and former first lady Michelle Obama have all previously been floated as possible replacements for Biden.

Harris, 59, is widely seen as the frontrunner due to legal constraints over the transfer of the Biden-Harris campaign’s war chest but many Democrats doubt her viability in the general election due to her favorability ratings often lagging even Biden’s.

This story is developing…