Under an agreement announced Wednesday, the Trump Victory super PAC can score $580,000 from mega-donors for his reelection. The Republican National Committee's biggest donors could also end up contributing as much as $1.6 million earmarked for Trump's reelection in 2020.
A Washington Post analysis revealed the new numbers Wednesday that these astoundly large numbers are all thanks to the Supreme Court's 2014 campaign finance ruling, McCutcheon v. FEC.
Thanks to the invention of super PACs, a loophole was created giving unaffiliated political groups supporting candidates the ability to raise buckets of cash for campaigns from the ultra-wealthy or corporations. The new rule Trump is taking advantage of allows for large sums to be raised in conjunction with political party committees. Because the Democrats do not have a presidential nominee, they can't raise this money. So, it puts Trump at a significant advantage.
"It is the latest example of the dramatically expanding fundraising power of national party committees, made possible through pivotal legal changes in 2014 that loosened restrictions on individual contributions. While a person can give a maximum of $5,600 to Trump’s campaign committee, a donor can legally give 103 times more in support of Trump’s reelection through the new joint fundraising arrangement," the Post reported.
"These joint committees have allowed presidential candidates to collect massive sums from their party’s top donors. The Hillary Victory Fund raised $530 million in 2015 and 2016, federal filings show," said the Post. Trump has far surpassed that number in 2020 with a year to go before the election.