Friday, December 18, 2020

Trump’s Future: Tons of Cash and Plenty of Options for Spending It


https://www.nytimes.com/2020/12/18/us/politics/trump-money-future.html

By Shane Goldmacher and Maggie Haberman
Dec. 18, 2020Updated 6:50 p.m. ET

Donald J. Trump will exit the White House as a private citizen next month perched atop a pile of campaign cash unheard-of for an outgoing president, and with few legal limits on how he can spend it.

Deflated by a loss he has yet to acknowledge, Mr. Trump has cushioned the blow by coaxing huge sums of money from his loyal supporters — often under dubious pretenses — raising roughly $250 million since Election Day along with the national party.

More than $60 million of that sum has gone to a new political action committee, according to people familiar with the matter, which Mr. Trump will control after he leaves office. Those funds, which far exceed what previous outgoing presidents had at their disposal, provide him with tremendous flexibility for his post-presidential ambitions: He could use the money to quell rebel factions within the party, reward loyalists, fund his travels and rallies, hire staff, pay legal bills and even lay the groundwork for a far-from-certain 2024 run.


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For Mr. Trump, the quarter-billion dollars he and the party raised over six weeks is enough to pay off all of his remaining campaign bills and to fund his fruitless legal challenges and still leave tens of millions of dollars.

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the Trump political apparatus has taken advantage of the grass-roots energy and excitement over the two runoffs to juice its own fund-raising. Email and text solicitations have pitched Trump supporters to give to a “Georgia Election Fund,” even though no funds go directly to either Republican senator on the ballot, irritating some Senate G.O.P. strategists.

Instead, the fine print shows 75 percent of the donations to the Georgia fund go to Mr. Trump’s new PAC, called Save America, with 25 percent to the Republican National Committee.

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“A leadership PAC is a slush fund,” said Meredith McGehee, executive director of Issue One, a group that supports increased political transparency. “There are very, very, very few limits on what he can’t spend money on.”

In the last five years, Mr. Trump has never shied from spending hundreds of thousands of dollars from his contributors on his private businesses, a practice he could continue or expand while out of office.

Just since mid-October, the Trump Victory Committee, a joint account operated with the R.N.C., has paid more than $710,000 to the Trump Hotel Collection, while his re-election account has continued to pay more than $37,000 per month to rent space in Trump Tower.

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