As President Trump continues to look for ways to overturn the 2020 election, he has also continued to raise massive sums of money — over half a billion dollars since mid-October, including more than $250 million since Election Day.
The New York Times reports more than $60 million of what Trump raised has gone to a new political action committee that he will control after he leaves office, an unprecedented war chest for an outgoing president.
There are few legal limits on what Trump can do with the raised funds, and he could use it to pay off his massive $420 million debt or to fund a potential 2024 run.
“This is entirely unprecedented,” says Brendan Fischer, director of federal reform at Campaign Legal Center, who has been closely following Trump’s fundraising since the election. “It’s a loosely regulated political vehicle that Trump can tap into after he leaves the White House to retain influence in the Republican Party and also to potentially benefit himself and his family financially.”
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