Former President Donald Trump is pressuring billionaires such as oil tycoons for substantial donations by promising tax cuts, according to U.S. media reports.
The Washington Post reported on the 28th that Trump is struggling with a “money drought” due to legal expenses. He has completely changed his reluctance to engage with donors and is now openly requesting astronomical support.
A prime example of this is his interaction with the oil tycoons. Earlier this month, Trump met with oil company executives at the Mar-a-Lago resort in Florida, promising to abolish the Biden administration’s environmental regulations and requesting their support of $1 billion for his re-election campaign.
At this meeting, Trump reportedly emphasized that a $1 billion donation would be a good deal considering the taxes and regulations they could avoid thanks to him.
He also introduced another high-dollar donor at a monthly gathering, saying the businessman wanted to donate $1 million and have lunch with him.
“I didn’t have lunch with him,” said Trump. “You should donate $25 million.”
“Another businessman donated about $2 million to $3 million to the Republican Party,” Trump said, adding that a donation of $25 million to $50 million would make him “very happy.”
He emphasized that President Biden would end the “tax cuts for the wealthy” he implemented during his term in 2025, saying, “Biden will not extend the tax cuts. You will face the largest tax bomb in history.” He argued that the way to avoid this was to support his re-election.
During the 2016 election, Trump had tried not to request political funds at all, and while he reluctantly participated in fundraising events for the 2020 election, he considered it a necessary evil.
In fact, during a broadcast debate in 2016, Trump said, “Individuals pursuing their interests, lobbyists, and high-dollar donors are controlling politicians. I know this better than anyone. I am the only one who can fix this system,” defining such covert deals through high-dollar donations as corrupt.
The Washington Post noted, “This time, Trump is playing a leading role in fundraising.” The outlet also mentioned that Trump’s team raised $76 million last month, $25 million more than President Biden, thanks largely to Trump’s efforts.
Trump is reportedly closely monitoring donations, while tracking contributions from significant groups, including oil companies, real estate, and finance, which are supporting him with large checks.
Experts point out that Trump’s actions are essentially testing the limits of campaign finance laws.
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