Legal fees could empty Donald Trump’s coffers at just the moment he’ll need to ramp up spending against Joe Biden in the upcoming presidential campaign, according to a new analysis.
The former president is on pace to spend $26.6 million, raised by an allied super PAC to fund his multiple legal battles, by July — the same month the Republican National Convention kicks off official campaign season, Bloomberg News reported Wednesday.
“Trump will likely drain his war chest for legal fees this summer…leaving the GOP frontrunner crunched for cash just as his presidential campaign ramps up spending,” the report notes.
“That leaves Trump with only a few — unappealing — options to keep paying for his defense.”
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Those unpleasant options, as detailed by Bloomberg, include two means of siphoning off campaign cash.
Trump could demand legal fee support from the Republican National Committee, which may be why he recently endorsed his daughter-in-law Lara, who has promised to “spend every penny” on his campaign, for a co-chair position.
There are two problems with this option, the first being “it would drain cash that otherwise would be used to win elections.”
The second is what Bloomberg describes as RNC's own cash problem: It's starting the year with just $8 million, while the Democratic National Committee had $21 million.
Trump's second option would be to tap more funds from small-dollar donors to his leadership PAC, Save America, Bloomberg reports.
The former president already spends 10 cents of every dollar donated on legal bills, which amounted to $9.9 million in 2023, according to the report.
Bloomberg also notes Trump’s campaign spent $13.6 million more than it raised in 2023, drawing from a Save America nest egg that is nearly gone.
