Elizabeth Warren: The Democratic Party Is Going to Say 'No' to the Billionaires

By Tal Axelrod, The Hill

03 January 19

en. Elizabeth Warren (D-Mass.) said Wednesday that the Democratic Party should say "no to the billionaires."

Warren, during an appearance on MSNBC's "The Rachel Maddow Show," called on the party to disavow billionaire 2020 presidential candidates "whether they are self-funding" or funding Political Action Committees (PACs).

“Is this going to be a Democratic primary that is funded by the grassroots, that is done with grassroots volunteers, or is this going to be something that’s just one more plaything that billionaires can buy?” Warren asked.

“So I think this is a moment for all of the Democratic nominees to come into the race to say ‘in a Democratic primary we are going to link arms and we’re going to say grassroots funding. No to the billionaires. No to the billionaires whether they are self-funding or whether they are funding PACs. We are the Democratic Party and that’s the party of the people,’" she continued. "That’s how we not only win elections, that’s how we win movements that make real change.”

Warren's comments marked her first interview since becoming the first major Democratic name to jump into the 2020 presidential race. Warren announced Monday that she is forming an exploratory committee to run for the White House.

Warren went on to clarify that billionaires, including Democratic megadonor Tom Steyer and former New York City Mayor Michael Bloomberg, who would likely fund their own campaigns if they were to launch a 2020 bid for the White House should not be precluded from seeking the party’s nomination.

Steyer, who has not yet made a public decision about a potential White House bid, made headlines last month when he posted a job on the professional networking website LinkedIn for several high-level campaign staffers in three crucial early-voting states. Bloomberg is prepared to spend upwards of $100 million should he mount a 2020 bid for the White House, his top political advisor told CNBC late last month.

Warren, long seen as a leading contender for the Democratic Party's 2020 presidential nomination, is a proven fundraiser.

She will likely face a crowded field of 2020 contenders, including former Vice President Joe Biden and Sen. Bernie Sanders (I-Vt.). She could also face a challenge from Rep. Beto O'Rourke (D-Texas), another strong fundraiser who earned massive hauls amid his pledge not to take corporate PAC money.