Latest news with #MAGAInc.
The Hill
01-08-2025
- Business
- The Hill
Trump's super PAC reports nearly $200 million war chest
The main super PAC affiliated with President Trump reported nearly $200 million in the bank as it looks ahead to the 2026 midterms in which control of Congress will be up for grabs. MAGA Inc., which was key in promoting Trump's 2024 presidential campaign, reported $196.1 million in cash on hand in a mid-year filing to the Federal Election Commission, having raised almost $177 million through the first half of 2025. The large sums show the group's preparations for future elections even as Trump himself won't be on the ballot and can't run in another presidential contest. The filing shows significant donations from top Republican donors like Jeff Yass, a GOP megadonor who also is a major investor in TikTok, and Elon Musk, who had been a close Trump ally before he and the president had a falling out and engaged in a war of words on various issues, including Trump's 'big beautiful bill' that he signed into law last month. Yass donated $16 million, while Musk gave $5 million to the super PAC, the filing shows. Various other donors with ties to big tech also gave significant amounts. Musk's donation came on June 27, after tensions cooled between the two of them and Musk expressed regret for his criticism of Trump. But the feud picked up again within days over the big beautiful bill, with Musk saying he would back primary challengers to Republicans who supported the legislation. Musk also said he would support Rep. Thomas Massie (R-Ky.), who was one of the only Republicans who bucked his party to vote against the bill and has faced attacks from Trump. With so much money in reserve, the super PAC could play a critical role in both primaries like Massie's, and the general election in which Republicans and Democrats will battle for congressional majorities.
The Hill
01-08-2025
- Business
- The Hill
Live updates: Jobs report, revisions set off economic alarm bells
A weak jobs report Friday and major downward revisions to May and June employment figures have set off alarm bells about the direction of the U.S. economy. The U.S. added only 73,000 jobs in July and the unemployment rate stayed flat at 4.2 percent, according to data released Friday by the Labor Department. That was well below the expectations of economists, most of whom projected job gains of at least 100,000 in July. Job growth in May and June was also far lower than first reported, according to the Labor Department, which shaved 258,000 jobs off of its past two reports. Democrats including Sen. Chris Murphy (D-Conn.) and Gov. Gavin Newsom (D-Calif.) were quick to pounce on the news. On Thursday night, President Trump set higher tariff rates on nations that hadn't yet agreed to trade deals with the U.S. hours before his suspended reciprocal tariffs were set to take effect on Friday. Those new rates will take effect Aug. 7. In a separate executive order, Trump set Canada's tariff rate at 35 percent, 10 points higher than he'd previously announced, which he said reflected the nation's inability to control fentanyl at the border. Trump on Friday is set to travel to his Bedminster, N.J., home, where he'll reportedly host a fundraiser for MAGA Inc., the super PAC that supports him. Catch up here:
Yahoo
27-05-2025
- Business
- Yahoo
Eye-Watering Price of Meeting Trump One-on-One Is Revealed
If you want a private audience with President Donald Trump, be prepared to pay. Trump has been offering one-to-one conversations in exchange for a hefty donation to MAGA Inc., a super PAC founded in 2022 that raises funds to support the GOP President, The New Yorker reported. The price is a cool $5 million, according to the magazine. It is a hefty hike since December, when MAGA supporters could buy a seat at a group dinner with Trump at Mar-a-Lago for $1 million. But it follows a spate of White House schemes to raise funds including a crypto dinner that came in at $1.7 million a seat and was billed as the 'most exclusive invitation in the world.' The new cash-to-talk scheme has shocked even the staunchest Trump supporters who are used to buying influence in Washington, The New Yorker reported. But it's not clear whether the $5 million investment is worth it, or what's on offer besides an opportunity to lobby the president in person. Lobbyists have had success with the administration since the start of Trump's second term in January. Pilgrim's Pride, a U.S. poultry producer, was the largest donor to Trump's inauguration fund and a few months later the administration announced policy changes that benefitted the company, such as agreeing not to increase salmonella testing, the New Yorker said. Notable businessmen have also been seen to cozy up to Trump by paying millions into the President's coffers. Meta CEO Mark Zuckerberg settled a lawsuit with Trump, agreeing to pay the President $25 million after dining at Mar-a-Lago, the New Yorker reported. Elon Musk has all but entwined his business interests with the Republican administration - in the latest move, the Tesla and SpaceX CEO has emerged as the frontrunner for a contract to develop Trump's new missile shield project, Golden Dome. Last Thursday, Trump held a private dinner with more than 200 global investors in his meme coin. Critics warned the event gave investors unprecedented ability to lobby the President in-person while Trump benefits financially from their investment in his cryptocurrency. Senator Elizabeth Warren described the event as an 'orgy of corruption.' Trump's money-making schemes extended to merchandise in April with the release of 'Trump 2028″ embroidered hats for $50. The cap comes in 'MAGA' red. Presidents are limited to two terms in the White House according to 22nd Amendment of the Constitution meaning Trump will not be able to seek re-election in 2028. However, in March Trump said he was 'not joking' about running for a third term. He told NBC News there were 'methods' that would allow him to stay in power, without providing details. Even if that proves to be a troll, the MAGA Inc. PAC's vast war chest gives Trump extraordinary staying power in a second term. No second-term president has previously had so much cash and already some it has funded advertising campaigns in seats held by Republicans in districts which Trump lost, seen as the most vulnerable to losing in next year's midterms, Axios reported. Trump wants to spend the cash not to benefit Republicans altruistically but because he believes a Democratic-held House would impeach him for a third time and wants to avoid that stain, thew outlet reported. The White House and MAGA Inc. PAC did not immediately respond to requests for comment from the Daily Beast.
Yahoo
27-05-2025
- Business
- Yahoo
Trump Issues Not-So-Coincidental Pardon of Massive Tax Cheat
Paul Walzack, a former nursing home executive guilty of tax fraud, got a full and unconditional pardon from President Trump after his mother attended a $1 million-per-person dinner with the president, according to The New York Times. His mother, a major Trump supporter, also happened to be involved in the 2020 plot to publicize Ashley Biden's stolen diary. Walzack was found guilty of stealing over $10 million from the paychecks of the nurses and doctors who worked for him to finance a yacht and other luxury items. He was charged in February 2023 on 13 counts of tax crimes, and eventually pleaded guilty and paid $4.4 million in restitution as Trump won back the White House in November. Walzack initially received no response from the Trump administration regarding a pardon request he submitted around Inauguration Day. But in April his mother, Elizabeth Fago, attended a $1 million entry dinner that included guaranteed face time with the president. The dinner was sponsored by MAGA Inc., a PAC that backs causes and candidates supported by Trump. It's not clear whether Fago donated to MAGA Inc., or how much, but three weeks later her son got his pardon. Walzack and his mother are well established within the MAGAverse. Fago has donated millions of dollars to GOP campaigns. She's hosted at least three Trump fundraisers and went to the VIP portions of both Trump inaugurations, where she cozied up to the president in photos posted on her Instagram. Fago was also deeply involved in a scheme to publicize the diary of Ashley Biden, former President Joe Biden's daughter, after she left it at a beach house in Florida. Aimee Harris, and Robert Kurlander, the individuals who stole the diary, brought it to a fundraiser at Fago's home in 2020 where it was shown to a Trump campaign organizer. Harris was sentenced to a month in prison and Kurlander is awaiting sentencing. This is yet another example of Trump's flippant use of his executive pardon power. Show him some loyalty, and some money, and you could get out of jail too.
Axios
07-05-2025
- Business
- Axios
Scoop: Trump aides dump 1 of the 2 Arizona governor candidates he backed
Three of President Trump 's top political lieutenants are abandoning the campaign of Arizona gubernatorial candidate Karrin Taylor Robson amid a flap that led Trump to simultaneously endorse a second Republican in the 2026 primary. Driving the news: The exodus from Robson's campaign came after Trump's advisers spent months urging her to air TV ads promoting his endorsement — which she'd promised to do, according to three people familiar with the situation. The backstory: Trump endorsed Robson in December, leading her to get help from the president's political apparatus. But on April 22, Trump announced that he was simultaneously endorsing GOP Rep. Andy Biggs, a sign that the president was hedging his bet on the Arizona race. This week, former Trump co-campaign manager Chris LaCivita and chief Trump campaign strategist Tony Fabrizio, who was the president's chief campaign strategist, quit their jobs advising Robson, according to the three sources who spoke with Axios. Chris Grant, a leader of MAGA Inc., the main pro-Trump super PAC, also left. What they're saying: "It takes special skill to botch a GOP primary with the Trump endorsement, but unfortunately that's what this candidate has single-handedly assured," one GOP strategist told Axios. "It's basically the greatest self-own in GOP political history." Robson's campaign declined to comment. A Robson ally rejected the Trump team's claims that she'd promised to run the ads in the time frame they requested. Zoom in: Trump aides had told Robson that by running ads highlighting the president's endorsement, she could solidify backing from his voters in the swing state and make it harder for Biggs to get Trump's backing. Robson, a wealthy lobbyist and businesswoman, indicated that she planned to dip into her personal bank account to pay for the ads, the aides contended. But Trump's team felt misled when Robson waited to air the ads. "She won't listen to anyone else, so she can run her own campaign now," said one person briefed on the Trump aides' exodus. It wasn't until April 28 — more than four months after Trump announced his endorsement, and six days after the president said he was also backing Biggs — that Robson began running a TV ad touting Trump's support. Zoom out: Robson lost to the Trump-endorsed Kari Lake in the 2022 race for Arizona governor. During the 2024 GOP presidential primary, Robson raised money for Chris Christie, the former New Jersey governor and Trump primary opponent. Trump's endorsement of Robson drew pushback from Republican activists such as pro-Trump conspiracy theorist Laura Loomer, who said Robson wasn't conservative enough. "Respectfully, who is doing the vetting for you?" Loomer posted on X in a message to Trump.
