Trump is extending an invitation to wealthy donors with a focus on fundraising for his legal expenses instead of for the Republican National Committee.
According to a fundraising invitation obtained by The Associated Press, former President Donald Trump has reached a new joint fundraising agreement with the Republican National Committee. The agreement states that donations will be directed to his campaign and a political action committee. This PAC has been covering Trump’s legal expenses prior to the RNC receiving a portion of the funds.
The unorthodox diversion of funds to the Save America PAC makes it more likely that Republican donors could see their money go to Trump’s lawyers, who have received at least $76 million over the last two years to defend him against four felony indictments and multiple civil cases. Some Republicans are already troubled that Trump’s takeover of the RNC could shortchange the cash-strapped party.
The invitation, issued by Trump, asks wealthy donors to attend a fundraising event in Palm Beach, Florida on April 6. This event is in response to President Joe Biden and national Democrats having raised more funds than Trump. According to the details on the invitation, any contributions made to the Trump 47 Committee will initially be allocated to Trump’s campaign, within the limits set by federal law. Any remaining funds will then be directed towards the Save America fund, followed by donations to the RNC and state political parties.
Mitt Romney appointed
According to an article in The Washington Post, Ronna McDaniel, who was selected by Mitt Romney, served as the former chair.ousted
In 2022, the RNC announced that they would cease making payments once Trump officially declared his candidacy for the month.
The updated agreement does not allocate RNC funds to attorneys; instead, it guarantees that any payments made to the new unified Republican campaign will prioritize Trump’s campaign and Save America.
Based on the terms and conditions, donors have the option to specify how their contribution will be allocated. They also have the choice to go around the fundraising agreement and make a direct donation to the RNC or another organization.
re-election campaign.
In February, Save America PAC allocated more than $5.5 million towards Trump’s bid for re-election.legal bills
This year, the group has already used up $8.5 million, with an additional $500,000 in unpaid lawyer fees carried into March. Trump’s campaign also incurred $1.7 million in legal expenses in the first two months.
According to filings with the Federal Election Commission on Wednesday, Trump’s political campaign is facing challenges in matching Biden’s fundraising efforts and organizational structure. Together, his main campaign account and Save America PAC brought in $15.9 million in February and had a remaining balance of over $37 million.
The two commissions play a crucial role in Trump’s fundraising effort, but they only represent a fraction of the overall strategy. More updated figures will be released in April, including those from the recently formed Trump 47 Committee in partnership with the Republican National Committee.
According to seasoned campaign finance attorney Brett Kappel, former president Trump urgently requires funds to cover his legal expenses and is depleting his Political Action Committee (PAC) as well as using a significant portion of his campaign funds. Kappel has previously worked with both Republican and Democratic clients.
Biden’s team reported that their political efforts garnered $53 million in donations last month and finished February with a total of $155 million in funds available. This amount includes money raised through Biden’s collaboration with the Democratic National Committee. The complete details will be disclosed in April, as certain committees within his political operation are required to file reports at that time.
According to the latest report filed with the FEC, his primary campaign fund received $21 million in February and finished the month with $71 million remaining.
As the candidate expected to be nominated by the party, Trump has significant control over the RNC. This allows his political team to benefit from the increased donation limits that apply to party committees. While candidates can only accept a maximum of $3,300 per donor, the joint fundraising agreement allows a single donor to contribute just over $800,000, and a couple to donate $1.6 million.
On April 6, a fundraiser will be held to support the Trump 47 Committee. Notable figures such as billionaire investor John Paulson, Las Vegas businessman Robert Bigelow (who also supported Florida Gov. Ron DeSantis’ presidential campaign), New York grocery billionaire John Catsimatidis, former World Wrestling Entertainment executive Linda McMahon (who served as the head of the Small Business Administration during Trump’s presidency), casino mogul Steve Wynn, and former Georgia Senator Kelly Loeffler will be hosting and co-chairing the event.
Attendees are requested to donate $814,600 per individual as a “chairman” contribution, which includes a seat at Trump’s table, or $250,000 per individual as a “host committee” contribution. Both choices also offer a chance to take a photo with Trump and receive a personalized copy of his coffee table book, “Our Journey Together,” featuring images from his presidency.
Three individuals who previously ran against Trump for the Republican presidential nomination, including South Carolina Senator Tim Scott, North Dakota Governor Doug Burgum, and biotech entrepreneur Vivek Ramaswamy, are expected to make appearances as “special guests.”
This report was contributed to by Jake Rosen.
Source: cbsnews.com