No Labels is roughly $50 million short of what it pledged to spend on a third-party presidential candidate in 2024, the group's tax filings show.
No Labels raised a total of $21.2 million in 2022, almost double the previous year's haul.
Until No Labels announces its decision on whether to mount a third party presidential candidate at a Dallas convention next April, its executives are living well.
A No Labels spokesman offered a different take to the Washington Free Beacon, saying the group "Will spend zero dollars on a presidential bid." Asked to clarify whether the group was abandoning its presidential ambitions, the spokesman said that "No Labels is not and never will be running a campaign, but we'll have our ballot line ready to offer to a Unity ticket if American voters want it." The September Times column sent Democratic operatives into a fit.
Senior advisers to President Joe Biden rushed to meet with No Labels in June and accused the group of functioning as a spoiler for the Republican Party.
Politico has referred to No Labels as a "Third-party nightmare for Democrats," and Axios reported this month that the White House is "Avoiding any public attacks that could give [No Labels] oxygen." With just $20 million stashed away, No Labels' finances pale in comparison to the more than $90 million Biden's campaign said it had on hand in October.
Although liberals believe No Labels is secretly working to reelect Trump by siphoning votes away from Biden, the group's founders have been explicit that their top goal is stopping the former president from winning a second term.
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