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Chris Wallace after Fox calls race for Biden: This is going to be 'increasingly untenable' for Trump

Fox News anchor Chris WallaceChristopher (Chris) WallaceFox News's DC managing editor Bill Sammon to retire Arkansas governor: Intelligence on state capitol protests 'not to the level that I'm bringing out the National Guard' Mulvaney: Earlier Trump controversies were 'policy differences' or 'stylistic,' but 'Wednesday was existential' MORE warned Saturday that it would become "increasingly untenable" for President TrumpDonald TrumpLil Wayne gets 11th hour Trump pardon Trump grants clemency to more than 100 people, including Bannon Trump expected to pardon Bannon: reports MORE to pursue legal challenges in states after Joe BidenJoe BidenTrump grants clemency to more than 100 people, including Bannon Scalise bringing Donna Brazile as guest to Biden inauguration Sidney Powell withdraws 'kraken' lawsuit in Georgia MORE was projected the winner of the presidential race.

"I think it's going to be increasingly untenable because I think you're going to start to see a lot of the Republican leaders who are now realizing their fortunes and their futures are no longer so directly tied to Donald Trump are going to begin to pull back," Wallace said after Biden was projected the winner.

"You even saw Lindsey GrahamLindsey Olin GrahamSenate presses Biden's pick for secretary of State on Iran, China, Russia and Yemen GOP senator questions constitutionality of an impeachment trial after Trump leaves office Graham pushes Schumer for vote to dismiss impeachment article MORE ... who may have been until yesterday Donald Trump's closest friend, closest colleague in the Senate, beginning to talk about a Biden presidency ... working with him," he said.

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Wallace noted that "Trump has every right to pursue legal challenges. Other failing candidates have in the past" but said, "So far, at least, we don't see anything to rise to the level of a serious fraud and certainly not a serious fraud that would change the results of elections."

Every major national news network called the 2020 race for Biden on Saturday after his lead in multiple states grew and Trump's path to 270 electoral votes evaporated. Fox News called both Pennsylvania and Nevada for Biden, paving the former vice president's path to victory.

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Biden's projected win sparked celebrations in major cities such as New York, Philadelphia and Washington, D.C. 

Trump has said he does not intend to concede and has alleged, without evidence, that widespread voter fraud has led to a "rigged" election.

“The simple fact is this election is far from over. Joe Biden has not been certified as the winner of any states, let alone any of the highly contested states headed for mandatory recounts, or states where our campaign has valid and legitimate legal challenges that could determine the ultimate victor,” Trump said in response to the networks calling the race for Biden.

The Trump campaign has already moved to either stop counting or invalidate thousands of mail-in ballots in several battleground states across the country, most of which Biden was projected to win.

Graham, who won reelection to his Senate seat on Tuesday, signaled support for the legal fund fighting on behalf of Trump's campaign in court. Graham was a sharp critic of Trump as the two men ran against each other in the 2016 Republican primary,but then became an ally to the president once he was elected.

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Senate Majority Leader Mitch McConnellAddison (Mitch) Mitchell McConnellTrump has talked to associates about forming new political party: report McConnell, Schumer fail to cut power-sharing deal amid filibuster snag McConnell keeps GOP guessing on Trump impeachment MORE (R-Ky.) this week urged for all "legal" votes to be counted, but insisted that there would be a peaceful transfer of power.

"We've had a peaceful transfer of power going back to 1792. Every four years, we've moved on to a new administration," McConnell said this week.

Trump clashed with Wallace on multiple occasions in the run-up to the election, accusing him of bias in favor of Biden and other Democrats while questioning his journalistic integrity.

Biden is scheduled to address the nation at 8 p.m. on Saturday.