Former Democratic House Leader Dick Gephardt is spearheading a new bipartisan initiative aimed at preventing a third-party presidential bid in 2024, which some fear could jeopardize President Biden's re-election chances. The group's formation comes as a direct response to the centrist organization No Labels, which has allocated $70 million to support a "unity" candidate. Internal polling conducted by Gephardt's group, as reported by the Washington Post, suggests a moderate third-party contender would draw more support away from Biden than from former President Trump in a hypothetical three-way race.

Greg Schneiders, involved in the polling for Gephardt's group, expressed concern to the Washington Post, stating that No Labels' efforts could significantly disadvantage Biden and potentially lead to Trump's victory. The bipartisan group includes prominent figures like former Senator Doug Jones (D-AL) and Stuart Stevens, a veteran Republican strategist who has worked on presidential campaigns for Bob Dole, George W. Bush, and Mitt Romney. The Gephardt-led group has not yet issued a public statement.

No Labels has been actively promoting the idea of a moderate third-party candidate, with rumored interest in Senator Joe Manchin (D-WV) and former Maryland Governor Larry Hogan, a Republican. While No Labels won't directly finance the candidate, they have been raising funds to bolster a potential campaign and secure ballot access in various states.

No Labels, co-founded by former Senator Joseph Lieberman, who has run for office as both a Democrat and an Independent, has faced criticism from some members of the bipartisan Problem Solvers Caucus in Congress, which No Labels also established. Representative Abigail Spanberger (D-VA) publicly criticized the group's efforts in May, arguing that it would ultimately benefit Trump. Meanwhile, center-left advocacy group Third Way and liberal group MoveOn are scheduled to meet with Democratic Senate chiefs of staff to discuss the potential ramifications of a well-funded third-party presidential campaign.

Senator Manchin, facing a potentially challenging re-election bid in 2024, has not dismissed the possibility of a presidential run.