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Donald Trump risks running out of cash as legal fees pile up

Donald Trump risks running out of cash as legal fees pile up

 


Donald Trump spent $4.9 million on legal fees in March and has just $6.8 million left in the accounts he uses to fund his lawyers, setting him up for a cash crunch as his trial costs are rising, according to his campaign finance filings.

That's forcing Trump, a criminal defendant in an ongoing trial in Manhattan, to find other sources of money to cover the mounting costs of his legal battles. Trump could seek to raise more money from donors, ask the Republican National Committee to cover the costs or pay the fee from his own fortune. The RNC said it would not pay Trump's legal fees.

So far, Trump has paid lawyers for Save America, a leadership political action committee that can accept money from political donors. Save America has spent more than $62 million on legal fees since January 2023.

Save America ended March with about $4 million in cash. He can also ask the Trump-allied super-PAC to return the remaining $2.8 million in donations it received from Save America in 2022.

Trump's legal problems make him different from all previous presidential candidates. In three separate trials, he has already been found responsible for sexual abuse, defamation and financial fraud related to the valuation of his assets. He also faces four other lawsuits, including two alleging he conspired to overturn the 2020 presidential election. His first criminal trial, for falsifying business records to conceal a secret payment to a porn actress before the 2020 elections 2016 started last week.

Since securing the Republican nomination, Trump has attempted to chip away at the financial advantage held by President Joe Biden and the Democratic Party, whose total war chest of $192 million at the end of March is two times more important than his own. But its ongoing legal battles continue to drain its coffers.

Trump's allied super political action committee, Make America Great Again Inc., raised $14 million and spent $6.3 million according to the latest Federal Election Commission filings. Campaign finance laws prohibit this group from directly funding Trump's bills.

Linda McMahon, who led the Small Business Administration during the first two years of Trump's term, gave $5 million to MAGA Inc., while real estate and aerospace entrepreneur Robert Bigelow gave $4.2 million . The super-PAC also received $50,000 from the PAC of a New Jersey local chapter of the International Brotherhood Electrical Workers union.

Sources

1/ https://Google.com/

2/ https://fortune.com/2024/04/21/donald-trump-cash-crunch-criminal-trial-legal-fees-presidential-campaign/

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