Biden, 76, has led in early polls of primary voters, and could capture significant support from major Democratic donors, many of whom held off from backing other candidates while awaiting his decision.

An announcement of his plans is expected in the coming weeks, according to the person, a Biden ally who spoke on condition of anonymity to discuss a private conversation.

A spokesman for Biden, Bill Russo, declined to comment.

Biden has indicated in recent weeks that he’s close to making announcing a campaign for the Democratic nomination, which would be his third, but hadn’t made a final decision. In a speech Saturday at a Democratic Party event in his home state of Delaware he made a verbal slip that hinted at a campaign. “I have the most progressive record of anybody running,” Biden told a cheering audience before adding, “anybody who would run.”

Early Advantage

Biden’s early advantage is driven by his high name recognition and his close association with former President

Barack Obama. There’s also a sense among some Democrats that Biden’s appeal with working-class white voters in the Rust Belt would make up for weaknesses that cost

Hillary Clinton the White House in 2016.

Yet he also would enter the campaign with some liabilities, including his age — four years older than Trump — and positions on issues that are more moderate than significant portions of the party’s voting base, which increasingly is made up of young voters, minorities and women. Biden has a longer political record than any other potential 2020 candidate and it includes scores of positions that are unpopular with Democratic voters, including some from which he’s since sought to distance himself or for which he’s apologized.

In recent speech, Biden tested out some themes of his potential campaign, which would rest heavily on his appeal to working-class voters while resisting other Democrats’ aggressive attacks on big business and Wall Street.

Large Field

Even though the first formal contest for the nomination isn’t until February 2020, there already are 15 other Democrats seeking the party’s presidential nomination. The field includes Senator

Bernie Sanders of Vermont, an independent who lost to Clinton in 2016, and first-time contenders

Elizabeth Warren of Massachusetts,

Kamala Harris of California and

Amy Klobuchar of Minnesota — all sitting senators — as well as former Texas Representative

Beto O’Rourke, who launched his campaign last week.

Biden is laying some groundwork to build up a strong early fundraising, according to the Wall Street Journal, which earlier reported Biden’s outreach. DM