President Joe Biden plans to serve the remainder of his term after announcing his withdrawal from the 2024 presidential race.

He's also encouraged his party to unite behind Vice President Kamala Harris as the Democratic nominee.

STC Political Science Chair Mark Murray says he was surprised by the move. He said President Biden, up until Sunday, has said multiple times he was staying in the race.

Murray explains what's next, since a presidential candidate has never stepped out of the race this close to Election Day.

"There is no law to this. The DNC, the National Democratic Convention, has its own rules and, according to their rules, their delegates are not tied to Biden," Murray said.

Those delegates will make the final decision on who will be on the ticket for democrats in November.

Murray says Biden's decision does appear to have a smart move financially.  

"People were withholding campaign contributions because they wanted to see Biden step down. As soon as he did, you saw the flush of contribution," Murray said.

Within 24 hours of Harris announcing her run for president, the campaign raised over $81 million in donations.

Murray explains what will happen to the $100 million the Biden campaign has already raised.

"They've already changed it from President Biden to President Harris for president and that $96 million has gone to the Harris campaign," Murray said.

So what's next?

The Democratic Convention is less than a month away. It starts August 19 and runs until August 22. Similar to the Republican National Convention, delegates will choose their nominee for president.  

Harris will spend the next several weeks trying to win over those delegates.

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