Trump Forgives Loans To His Campaign

Ken AshfordCampaign Finance Reform, Election 2016Leave a Comment

Reuters reports:

Donald Trump has forgiven $50 million in loans he made to his campaign, a top staffer said on Thursday, signaling to donors that future contributions will be used to fight Democrat Hillary Clinton and not to repay himself.

The announcement that Trump will not seek reimbursement, made by his campaign finance chief in a CNBC interview, came amid concerns from his backers that he will not be able to adequately fund his White House bid.

“(Trump) loaned $50 million to the campaign. He’s now forgiven that loan. So that is a contribution” by Trump, Steve Mnuchin said, referring to a series of loans made over the past year.

“(Trump) has also said he will contribute significantly more money,” said Mnuchin, the top fundraiser for Trump’s campaign.

He also told CNBC that the presumptive Republican nominee has seen a strong uptick in fundraising in the last week.

Mnuchin said Trump raised about $10 million in conjunction with the Republican Party at fundraising events this week. Trump also raised another $6 million through online donations, Mnuchin said, following the wealthy New York businessman’s first attempt to appeal to supporters to contribute to his campaign.

I would check the fine print.  I suspect there is a piece of paper somewhere that would allow Trump — perhaps through a complicated series of transactions — to get his money back.  Wait.