Donald Trump’s ferocious money-raising machine, powered in equal measure by grassroots giving and large individual and corporate donations, has never really stopped turning – and it is currently raising huge sums of cash.
As of this month, Trump has $108,046,100 saved in his Save America political fund, more than the Republican and Democratic national committees combined, and 12 times as much as the fund – Pac for the Future – for the Democratic House speaker, Nancy Pelosi.
And all of that has been raised while Trump’s own ambitions remain unclear. Though his grip on the Republican party remains tight – and he has waged an endorsement war against his opponents – the big question over whether Trump will run again for the White House remains unanswered.
Without any declared candidacy, his war chest’s purpose and thus also that of its master, is unclear – and deliberately so.
Trump cannot easily spend the money on himself should he decide to run in 2024. Save America is registered as a leadership pac, or political action committee, not a campaign tool for himself. Yet Trump is not yet spending much, according to its “leadership” purpose of supporting Republican candidates going into this year’s hotly contested midterm elections.
Despite Trump’s more than 120 Republican endorsements, and even as Democrats pour money into the effort to retain control of Congress, the massive accumulation of cash under his control raises the question: what is it for?
Trump has not stopped raising money since he left office, either through thousands of small donations raised at Trump rallies or online, or via the big donor money-machine that Democrats cannot match – being schmoozed by Trump himself on the golf course and in the dining room at Mar-a-Lago.
Since Trump founded Save America in November 2020, the group has raised $124m – the largest war chest ever built by an ex-president – but spent only about $14m, or around 11%.
In contrast, the main fund for supporting Senate Republican candidates has spent about 80% of the $135m it raised since the start of 2021, while its main fund for congressional candidates has spent half of the $162m it has raised in the same period.
The question of Trump’s pac money is beginning to vex strategists on both sides of the political divide. It could be a fund designed to ensure the loyalty of Republican allies forming a new power base within the party, or he may have other designs – namely securing his own path forwards by securing the political future of loyalists.
“It’s consistent with Trump’s political priorities – Trump first above everything else – and makes him well positioned for a presidential run in 2024,” said the Democratic consultant Carly Cooperman.
“It’s possible he decides to make a big splash in competitive races as we get closer to the midterm elections, but above all, Trump’s immense popularity and ability to raise large sums of money makes him even more powerful in the Republican party,” Cooperman added.
According to FEC financial disclosures, Save America spent more than $3m on events through February, $2m on consulting services, including to law firms representing witnesses sought by committee investigating the January 6 Capitol riot, including the Trump aide Dan Scavino and Trump spokesperson Taylor Budowich.
It also spent $300,000 on ads, $200,000 in contributions to Republican congressional candidates, and at least $170,000 at hotels owned by Trump for lodging, meals and the renting of hotel facilities.
Budowich, communications director for both Save America and Trump, told Reuters that the former president was supporting candidates through direct contributions, rallies and joint fundraisers – in other words, efforts that bind candidates to the former president.
“Save America will not be telegraphing specific tactics or…
Read More: Questions abound as Trump raises – and hoards – huge sums of 2024 cash | Donald Trump