Here is why Donald Trump's presidential library is on hold

According to a report from Bloomberg, aides close to Donald Trump claim that planning for his presidential library is on hold for a multitude of reasons, chief among them is the fact that starting such a library would be a concession that either he won't run for president again in 2024 or that his political career is over.

The report states that the delay to announce plans for the library is tied to keeping his options open to run again which is also allowing him to continue to fundraise for a possible run.

With Bloomberg reporting, "But planning for a library would suggest he's done being president and that's not something he's ready to concede, say people familiar with his thinking. Trump has publicly dangled the possibility that he will seek the Republican nomination in 2024," presidential library expert Anthony Clark claimed that made sense.

"Once he says, 'I am going to be raising money for my library,' he's given up even the pretense of trying to run again," Clark explained.

Clark went on to predict that Trump's presidential library may never come to pass.

According to Bloomberg, "Clark said he doubts that Trump will ever have a presidential library because of how expensive and complicated they are to build, how difficult it is to secure a location and because he didn't start raising money and planning before leaving office as other presidents did."

Should Trump go forward with plans to build one, one expert stated, "The most likely vehicle would be a nonprofit charity, the model used by modern presidents, because donations are tax deductible and the entity doesn't have to pay tax on the money it raises," reports Bloomberg.

However, Trump's use of a charity would come under scrutiny given his history in New York where he and his family have been ordered to pay fines.

"Trump agreed to pay $2 million in damages and shut down the Donald J. Trump Foundation in New York as part of a settlement in 2019 after allegations that he violated state rules governing nonprofits by spending money improperly, including buying a portrait of himself at a charity auction," the report states. "The former president's political committees also raised more than $225 million after the 2020 election by telling supporters the money was needed to "stop the steal" through court fights. But his campaign disclosed spending just $8.8 million on legal expenses for recounts and court challenges, with most of the money still available to Trump for political activities as he ponders his next moves."

You can read more here.