Donald Trump Turns His $50 Million Loan To His Campaign Into A Donation
- 8 years ago
On Thursday, Donald Trump’s finance chairman announced that the billionaire has forgiven the $50 million loan he made to his campaign.
Donald Trump’s campaign has historically been a little light on donations, but the candidate himself appears to have the money situation under control, notes USA Today.
CNBC is reporting that on Thursday, Steve Mnuchin, Trump’s finance chairman, announced that the billionaire has forgiven the $50 million loan he made to his campaign.
Thus, the large loan involved is now considered a donation. It was also indicated that Trump intends to add to that figure.
According to the New York Times, the change in the money’s status is likely intended to alleviate concerns about supporter donations being used to pay off the high sum.
Had Trump not forgiven the amount, it would have been due shortly after the Republican convention, as per the federal regulations.
Donald Trump’s campaign has historically been a little light on donations, but the candidate himself appears to have the money situation under control, notes USA Today.
CNBC is reporting that on Thursday, Steve Mnuchin, Trump’s finance chairman, announced that the billionaire has forgiven the $50 million loan he made to his campaign.
Thus, the large loan involved is now considered a donation. It was also indicated that Trump intends to add to that figure.
According to the New York Times, the change in the money’s status is likely intended to alleviate concerns about supporter donations being used to pay off the high sum.
Had Trump not forgiven the amount, it would have been due shortly after the Republican convention, as per the federal regulations.