Donald Trump, the former president of the United States who has been nominated as the Republican presidential candidate, is reportedly pressuring oil tycoons and other billionaires for explicit high-level donations by promising tax cuts, as reported by the US media.
According to The Washington Post on the 28th (local time), Trump, who has been struggling with legal expenses, has completely changed his attitude towards donors and is now openly requesting astronomical amounts of financial support. He met with oil company executives at a resort in Florida earlier this month and requested $1 billion in support for his reelection campaign by promising to repeal environmental regulations under the Biden administration.
At the gathering, Trump reportedly emphasized that the $1 billion support was a good “deal” considering the tax breaks and regulations these donors would avoid thanks to him. In another high-level donor meeting this month, he mentioned that one businessman offered to donate $1 million and have dinner together. Trump responded by saying, “I haven’t had dinner with him. You owe $25 million.”
Regarding another businessman who donated $2-3 million to the Republican Party, Trump said supporting $25-50 million would make him “very happy.” He underscored that President Biden is likely to end the ‘wealthy tax cuts’ made during his tenure in 2025 and warned that people would face the largest tax bomb in history, urging them to support his reelection as a way to avoid it.
During the 2016 presidential campaign, Trump avoided direct requests for political funding, and in the 2020 election, he reluctantly participated in fundraising events, considering it a necessary evil. In a debate in 2016, he criticized the influence of individual interests, lobbyists, and high-level donors in politics, calling out the secretive practice of high-level donations as a corrupt system in need of reform.
The Washington Post mentioned that this time, Trump is taking a lead role in fundraising and recently raised $76 million more than President Biden, totaling $760 million. He closely monitors who donated how much, including which groups such as oil companies, real estate, and finance are supporting him with high-level checks.
Experts point out that Trump’s actions effectively test the limits of campaign finance laws.