According to a report from the New York Times, Donald Trump fulfilled the dreams of many of his super-rich 2016 campaign donors by forcing through a massive tax cut that lined their pockets, but it is not paying off for him as he runs for re-election -- only to find they are turning their backs on him.
The report starts out by revealing Trump has been unable to depend on "a reliable stable of millionaires and billionaires willing to write seven-figure checks," despite the fact that he has spent three and half years making them even richer.
Pointing out that the president is not hurting for cash after having raised "$165 million in July for his campaign and the two fund-raising committees that he shares with the Republican National Committee," his campaign is still waiting for some big money people who have supported him and the GOP in the past to pony up with less than 90 days before the election.
"The president’s sagging popularity, driven by his erratic and divisive behavior during the coronavirus crisis, has prompted some of the wealthiest Republicans — the heavy artillery of modern politics — to delay, divert or diminish their giving," the report continued before adding, "Thus far, only six of the top 38 donors to Trump-related super PACs in 2016 and 2018 have contributed to America First for the president’s re-election, according to a New York Times analysis of federal campaign finance data."
According to the report, the America First PAC and its sister nonprofit, America First Policies, were projected to raise $300 million to prop up the president. To date, according to a spreadsheet of their finances, they have only raised approximately $107 million.
Of greater concern is not just the denial of campaign contributions, but wealthy donors expressing concern with where the country is going and what plans the president has besides just remaining in office.
"In recent weeks, prospective contributors to America First, and Mr. Trump’s joint-fund-raising committees with the Republican Party, have responded to solicitations by expressing concern that the president has not articulated a clear vision for the next four years, according to interviews with donors and people close to Mr. Trump and his fund-raising efforts," the Times reports while adding some donors are skeptical the president will prevail in November.
According to one wealthy donor who is still contributing, she's not entirely pleased with the president.
Speaking with the Times, Liz Uihlein, who, together with her husband, Richard, has donated nearly $3 million to America First this election cycle, said she wished the president would keep his mouth shut.
“Obviously, Trump, you wish sometimes he would just shut up — don’t go there, it’s not necessary,” she lamented.
You can read more here.