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Trump is funneling campaign money into cash-strapped businesses. Experts say it looks bad.
Donald Trump’s main 2024 White House campaign fundraising operation sharply increased spending at the former president's properties in recent months, funneling money into his businesses at a time when he is facing serious legal jeopardy and desperately needs cash.
Trump’s joint fundraising committee wrote three checks in February and one in March to his Mar-a-Lago club in Palm Beach, Florida, totaling $411,287 and another in March to Trump National Doral Miami for $62,337, according to a report filed to the Federal Election Commission this week.
Federal law and FEC regulations allow donor funds to be spent at a candidate’s business so long as the campaign pays fair market value, experts say.
Trump has been doing it for years, shifting millions in campaign cash into his sprawling business empire to pay for expenses such as using his personal aircraft for political events, rent at Trump Tower and events at his properties, which has included hotels and private clubs.
While the practice is legal, some campaign finance experts believe it raises ethical concerns when a candidate is generating personal revenue off running for office.
“When voters see something like this happening it contributes to their distrust of the political system and their elected officials' motives,” said Shanna Ports, senior legal counsel with the Campaign Legal Center, a nonprofit government accountability group.
Trump faces huge legal costs amid multiple civil and criminal cases
The money Trump’s campaign is spending at his businesses could help the former president as he faces a big cash crunch.
Trump has been hit with a pair of large financial judgements after losing two civil lawsuits.
He posted a $91.6 million bond in a defamation case brought by the writer E. Jean Carroll, and a $175 million bond in a fraud case involving falsifying business records. The New York attorney general is challenging whether the deal Trump made to post the larger bond payment is financially sound.
The payments Trump’s campaign has made to his businesses are small compared to his large court-ordered financial judgements, but have been growing in recent months.
The Trump campaign and affiliated political committees paid businesses owned by Trump at least $4.9 million since the start of 2023, according to an analysis by USA TODAY. Most of that money – $4.1 million – went to TAG Air, Inc. for air travel.
Trump lists TAG Air, Inc among his assets on his latest financial disclosure required of presidential candidates, with a value of between $5 million and $25 million. It operates his private aircraft, nicknamed Trump Force One.
Trump's various campaign committees and a super PAC controlled by his supporters also spent at least $809,000 at his properties since the beginning of last year.
Campaign spending at Mar-a-Lago in Palm Beach, Doral in Miami
The bulk of the campaign spending at Trump's properties since the start of 2023 — $663,000 — has been at Mar-a-Lago, and most of it occurred in February. It’s not clear what events the money went toward.
A Trump spokeswoman did not respond to specific questions about the campaign spending at his properties but instead sent a statement attacking President Joe Biden.
Other GOP candidates also have been spending considerable campaign cash at Trump properties.
Ohio Republican U.S. Senate candidate Bernie Moreno's campaign spent $109,000 on "event catering" at Mar-a-Lago in April, December and January of 2023, records show. Trump endorsed Moreno in December. Moreno won the primary in March and will face three-term Democratic Sen. Sherrod Brown in November.
Nevada U.S. Senate candidate Jim Marchant's campaign spent about $67,000 at Mar-a-Lago on "event venue rental and catering" in November and December. Trump backed Marchant in his unsuccessful bid to be Nevada's secretary of state in 2022. Marchant is now seeking to unseat first-term Democratic Sen. Jacky Rosen.
A PAC called Giuliani Defense spent $2,400 on fundraising expenses and food at Trump's golf club in Bedminster, New Jersey in January. That PAC has spent $540,000 on legal fees, according to FEC filings. Trump hosted a fundraiser for Rudy Giuliani at Bedminster in September to help with the former New York mayor's legal costs, which stem in part from the criminal charges Giuliani faces in Fulton County, Georgia, for trying to help Trump overturn the 2020 election.
https://www.yahoo.com/finance/news/trump-funneling-campaign-money-cash-092243043.html
Donald Trump’s main 2024 White House campaign fundraising operation sharply increased spending at the former president's properties in recent months, funneling money into his businesses at a time when he is facing serious legal jeopardy and desperately needs cash.
Trump’s joint fundraising committee wrote three checks in February and one in March to his Mar-a-Lago club in Palm Beach, Florida, totaling $411,287 and another in March to Trump National Doral Miami for $62,337, according to a report filed to the Federal Election Commission this week.
Federal law and FEC regulations allow donor funds to be spent at a candidate’s business so long as the campaign pays fair market value, experts say.
Trump has been doing it for years, shifting millions in campaign cash into his sprawling business empire to pay for expenses such as using his personal aircraft for political events, rent at Trump Tower and events at his properties, which has included hotels and private clubs.
While the practice is legal, some campaign finance experts believe it raises ethical concerns when a candidate is generating personal revenue off running for office.
“When voters see something like this happening it contributes to their distrust of the political system and their elected officials' motives,” said Shanna Ports, senior legal counsel with the Campaign Legal Center, a nonprofit government accountability group.
Trump faces huge legal costs amid multiple civil and criminal cases
The money Trump’s campaign is spending at his businesses could help the former president as he faces a big cash crunch.
Trump has been hit with a pair of large financial judgements after losing two civil lawsuits.
He posted a $91.6 million bond in a defamation case brought by the writer E. Jean Carroll, and a $175 million bond in a fraud case involving falsifying business records. The New York attorney general is challenging whether the deal Trump made to post the larger bond payment is financially sound.
The payments Trump’s campaign has made to his businesses are small compared to his large court-ordered financial judgements, but have been growing in recent months.
The Trump campaign and affiliated political committees paid businesses owned by Trump at least $4.9 million since the start of 2023, according to an analysis by USA TODAY. Most of that money – $4.1 million – went to TAG Air, Inc. for air travel.
Trump lists TAG Air, Inc among his assets on his latest financial disclosure required of presidential candidates, with a value of between $5 million and $25 million. It operates his private aircraft, nicknamed Trump Force One.
Trump's various campaign committees and a super PAC controlled by his supporters also spent at least $809,000 at his properties since the beginning of last year.
Campaign spending at Mar-a-Lago in Palm Beach, Doral in Miami
The bulk of the campaign spending at Trump's properties since the start of 2023 — $663,000 — has been at Mar-a-Lago, and most of it occurred in February. It’s not clear what events the money went toward.
A Trump spokeswoman did not respond to specific questions about the campaign spending at his properties but instead sent a statement attacking President Joe Biden.
Other GOP candidates also have been spending considerable campaign cash at Trump properties.
Ohio Republican U.S. Senate candidate Bernie Moreno's campaign spent $109,000 on "event catering" at Mar-a-Lago in April, December and January of 2023, records show. Trump endorsed Moreno in December. Moreno won the primary in March and will face three-term Democratic Sen. Sherrod Brown in November.
Nevada U.S. Senate candidate Jim Marchant's campaign spent about $67,000 at Mar-a-Lago on "event venue rental and catering" in November and December. Trump backed Marchant in his unsuccessful bid to be Nevada's secretary of state in 2022. Marchant is now seeking to unseat first-term Democratic Sen. Jacky Rosen.
A PAC called Giuliani Defense spent $2,400 on fundraising expenses and food at Trump's golf club in Bedminster, New Jersey in January. That PAC has spent $540,000 on legal fees, according to FEC filings. Trump hosted a fundraiser for Rudy Giuliani at Bedminster in September to help with the former New York mayor's legal costs, which stem in part from the criminal charges Giuliani faces in Fulton County, Georgia, for trying to help Trump overturn the 2020 election.
https://www.yahoo.com/finance/news/trump-funneling-campaign-money-cash-092243043.html
