Posted on 06/23/2016 5:42:03 PM PDT by mandaladon
WASHINGTON (Reuters) - Republican Donald Trump has forgiven nearly $50 million in loans he made to his presidential campaign, he said on Thursday, signaling to donors that future contributions will be used to fight Democrat Hillary Clinton and not to repay himself.
The announcement that Trump will not seek repayment of the loans via contributions came amid concerns from his backers that he does not have enough money to fund his campaign for the Nov. 8 election. He had only $1.3 million in cash to start the month.
"I have absolutely no intention of paying myself back for the nearly $50 million dollars I have loaned to the campaign," the presumptive Republican nominee said in a statement.
The New York developer has suggested he could use more of his personal wealth to help win the White House.
"(Trump) has also said he will contribute significantly more money," Steve Mnuchin, the top fundraiser for Trump's campaign, said in an interview on CNBC earlier on Thursday. Mnuchin was the first to say that Trump would forgive the loans.
Although Trump has said he has "unlimited" personal wealth to fund his White House run, a Reuters review of his financial disclosures suggests he does not have enough cash to see his campaign through to Election Day.
Gaylord Hughey, a Texas-based fundraiser supporting Trump, called Trump's decision to forgive the loans "unprecedented."
"I think it indicates that he’s all in and he wants every dollar to be spent toward a successful campaign for the general election," Hughey said.
(Excerpt) Read more at yahoo.com ...
Smart move.
It was very nice of the media to get the word out. I do not see money being an issue with Trump.
In addition to actual money, donating creates loyalty. Once people have invested (even if it’s only 10 bucks) they are likely to follow up and vote and may also influence others to protect their investment.
The RNC will also kick in to fun his election campaigh. I just love the MSM headlines that Trump doesn’t have the money... It takes a party to fund the campaign.
Wow…I hope Ryan and McConnell and Pribus write him a nice Thank You note for his gift to the RNC of $50,000,000, maybe send him a nice fruit basket. If nothing else, they could keep their flapping mouths shut and stop criticizing him, and giving aid and comfort to Hilary.
Hillary is one of the Devil’s spawn. Trump is her opponent, love him or not, he has got to win or Hillary, the liberal socialists and one world elites who ram Obama and will run Hillary will further diminish our USA.
Money is the life blood of every political campaign. Trump needs money as he needs to show potential voters why we need him over Hillary. Give to the Trump campaign and PACs that are pro Trump.
I donate monthly and dropped a few extra bucks in his recent venture where he matched funds and raised over $2 million in 24 hours.
Those who say they don't want Hillary need to give up a soda pop once in a while and send money Trump's way...
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