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What we know about Donald Trump's cash flow problems

What we know about Donald Trump's cash flow problems

 


Saddled with legal bills, huge court-imposed fines and constant campaign spending, Donald Trump is facing a severe cash flow crisis that shows no signs of abating. Last month, the Trump campaign reported a net loss of about $2.6 million, bringing in about $8.8 million but spending about $11.4 million, according to Commission filings federal election. Worse yet, a separate filing shows that the former chairman's Save America PAC, an organization he used to cover his legal fees after the 2020 election, received just $8,508 in donations in January, far from nearly of $3.9 million spent that month.

The PAC ended January $1 million in the black, but not thanks to a new wave of donations. Instead, to keep his legal slush fund afloat, Trump arranged a multimillion-dollar infusion from a separate pro-Trump PAC, in increments of $5 million, according to The Daily Beast. (Last year, Trump's political fundraising committees spent more than $50 million on legal fees alone.) The outlet noted that nearly 75 percent of Save Americas' January spending went to to legal fees and payment for lawyers defending Trump in his sprawling cases, which include four criminal cases. indictments and several civil suits.

Trump was also ordered to pay a total of $88.3 million to E. Jean Carroll after she was found liable for sexual abuse and defamation. Additionally, the judgment in his New York civil fraud case fined him $355 million, plus $100 million in prejudgment interest, which would be enough to potentially drain all of his cash reserves. Treasury. In both cases, Trump has denied any wrongdoing and plans to appeal. On Tuesday, New York Attorney General Letitia James warned that Trump could lose some of his key assets. If he does not have the funds to pay the judgment, we will pursue mechanisms to enforce the judgment in court and ask the judge to seize his assets, James told ABC News, adding that she is reviewing each the Trumps 40 building on Wall Street and every day.

If Trump continues spending at the rate he has in 2023, he will run out of funds to pay his legal fees by the middle of the year, as Bloomberg News reports, which points out that this means he will then have to turn to donors or donors. the Republican National Committee for Financial Assistance. Perhaps in anticipation of this outcome, Trump sought to fill RNC leadership positions with loyalists, including his daughter-in-law, Lara Trump. Of course, with a net worth estimated by Forbes at $2.6 billion, Trump is more than capable of self-financing. But he has in the past resisted spending his own money on legal and campaign costs.

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