Bloomberg Law
Trump War Chest for Legal Fees Likely Drained By Summer
Feb 21, 2024
Bill Allison discusses how Trump's legal fees may deplete his war chest by summer, funded by political committees. Caroline Grace Brothers talks about an upcoming Supreme Court case on accountability for retaliatory arrests. The podcast also covers Trump's Super PAC redirecting funds, financial challenges, campaign fundraising activities, legal troubles, and trends in retaliatory speech lawsuits.
33:30
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Quick takeaways
- Former President Trump is likely to deplete his war chest for legal fees this summer, impacting his campaign cash flow.
- Trump diverts 10% of campaign donations for legal expenses, potentially affecting his ability to fund campaigning effectively.
Deep dives
Trump's Legal Expenses and Fundraising
Former President Donald Trump spent $51.2 million on legal expenses in 2023, mostly paid from his political committees. He is expected to drain his war chest for legal fees this summer, leaving him short on cash as his presidential campaign gears up for a rematch with President Joe Biden. Trump has about $23.5 million left, which includes funds from an allied super PAC. He faces the challenge of raising money while diverting 10% of contributions for legal expenses. If his legal fees exhaust the available funds, he may rely on options like the Republican National Committee or increasing small-dollar donor contributions.
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