AP Photo/Andrew Harnick
Donald Trump Declaration That he’s running for president again in 2024 doesn’t change anything in any way. Trump has never really left campaign mode since his defeat and subsequent coup attempt. But there’s a reason most presidential candidates don’t formally declare their candidacy early in the campaign.Many Presidential Candidates Actually Go to Outrageous Lengths avoid Declaration of candidacy.
In fact, there are quite a few rules that go along with the announcement of official tenders. Rules that require a lot of paperwork and limit fundraising efforts. And perhaps most relevant to Trump fending off lawsuits against his business empire in New York, there are also rules requiring him to disclose his finances in great detail.
Here are three of the most significant consequences Trump has had as he formalized his latest campaign.
Announced presidential candidates must submit comprehensive personal financial disclosures within 30 days of declaring their candidacy. There is a loophole that if candidates declare earlier in the year, they can wait until May 10th, and Trump says that if he waits until January 1st to announce his bid, he will take advantage of it to improve his financial position. He could have delayed revealing. But he didn’t. Instead, Trump will have until December 15th to submit a form listing his current assets (all property and investments, and all liabilities). He filed one lawsuit before Trump resigned in early 2021. More recent details have emerged in connection with his $250 million civil fraud lawsuit filed against him by New York Attorney General Letitia James. However, none of these documents show his current finances. If Trump invests in new projects or signs new contracts, it was reported Monday night that he recently struck a deal with a Saudi developer to lend his name to a golf course. All of this will be disclosed. Trump will also have to evaluate his stake in the company behind the struggling Truth Social app.
With an ever-evolving array of fundraising groups swirling around Trump (PACs, leadership PACs, super PACs, dark money groups), it’s not always clear which groups have his support and involvement. . But now that Trump is the nominee, that will have to change. There are not many rules regarding Super PACs, but one big rule is clear.
Candidate-led campaigns can only be funded by individuals and political action committees, and cannot be funded directly by companies. Individuals can only donate his $5,900 and PAC can only donate her $10,000 per election. Also, if a campaign spends money on things like advertising for TV attacks, it needs to be clear that the candidate paid for it. Super PACs, on the other hand, can receive unlimited money from people, PACs and businesses and can say whatever they want in their ads unless the candidate tells them to do so. While Trump is focused on small fundraising efforts, he will not be able to work closely with external spending groups that can raise large donations.
In September, Trump appeared to reorganize some of his fundraising instruments to create a new super PAC that appears set to lay the groundwork for future presidential elections, called MAGA, Inc. It appears to have tried to consolidate some of the other groups and focus on Trump’s hefty fundraising efforts. It is a common strategy for candidate candidates to hold out as non-candidate status for as long as possible so that they can work closely with these groups. Super PAC is racking up nearly $100 million in cash to fend off potential competitors. On the one hand, the Trump campaign has dashed all of Bush’s best plans. Postponing the campaign to build a super PAC may not really be what you should do. But good ideas or not, Trump narrowed his funding options before he had to.
Trump is a billionaire and a big fundraiser, but he still managed to persuade the Republican National Committee to pay a significant portion of his enormous legal costs (which was ultimately worth $2 million). I am persuading you to help me. The RNC, at least in part, paid for Trump’s fight with James and Manhattan District Attorney Alvin Bragg. Bragg’s prosecutors are now filing criminal charges against Trump for alleged tax evasion against his organization. The RNC said it agreed to pay his bills because the lawsuit was likely politically motivated. But last week, RNC chairman Ronna McDaniel said that if Trump declared himself the presidential candidate, it would have to stop because the RNC needs to remain neutral in the primary. Trump has other sources of funding. His own PAC put in about $7 million to cover his legal costs. However, his legal troubles are far from over.
