Joe Biden bows out of 2024 presidential election, endorses Kamala Harris

PresidentJoe Biden announced today that he is withdrawing from the 2024 presidential race.

The decision comes after weeks of mounting pressure from topDemocratic leaders, donors, and supporters. “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,” Biden wrote in a letter posted on social media.

Related: Joe Biden endorses Kamala Harris for president: 'It's time to come together'

"Over the past three and a half years, we have made great progress as a nation," he wrote, highlighting accomplishments such as historic investments in rebuilding the nation, lowering prescription drug costs for seniors, and expanding affordable health care to a record number of Americans.

“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,” said Biden. “It has been the greatest honor of my life to serve as your President. I want to thank Vice President Kamala Harris for being an extraordinary partner in all this work. And let me express my heartfelt appreciation to the American people for the faith and trust you have placed in me.”

Biden concluded: “I believe today what I always have: that there is nothing America can’t do - when we do it together. We just have to remember we are the United States of America.”

The pressure on Biden to step aside has been relentless. Senate Majority Leader Chuck Schumer, Speaker Emerita Nancy Pelosi, and House Democratic Leader Hakeem Jeffries were among the prominent figures urging Biden to reconsider his re-election bid, according to multiple reports. Schumer encouraged Biden to step aside in a private conversation, ABC Newsreports, whileaccording toAxios, Pelosi detailed for Biden how Democrats would likely lose elections if he stayed. In recent days, former President Barack Obama spoke with Biden about the race, warning him that the Democrats were in trouble, the Washington Postreports. These calls became increasingly public and urgent following Biden’s faltering performance in a debate against Trump last month.

Biden’s recent COVID-19 diagnosis added another layer of complexity to his campaign. Forced to isolate while experiencing mild symptoms, Biden’s ability to actively campaign was further hampered. This situation contrasted sharply with Trump, who was preparing to accept the Republican nomination shortly after surviving an assassination attempt.

A person close to Biden told NBC News on Thursday, “We’re close to the end,” a sentiment echoed by other allies who believed the writing was on the wall.

The Democratic National Committee is now tasked with navigating the nomination process.

Biden endorsed Vice President Kamala Harris as the Democratic nominee for president in another post on social media.

Related: How pro-LGBTQ+ is Kamala Harris?

"My very first decision as the party nominee in 2020 was to pick Kamala Harris as my Vice President. And it’s been the best decision I’ve made. Today I want to offer my full support and endorsement for Kamala to be the nominee of our party this year. Democrats — it’s time to come together and beat Trump. Let’s do this," he wrote.

This is a developing story.