Top GOP officials are warming to the party's presumptive nominee, but the donor class remains unswayed.
Republican donors want nothing to do with Donald Trump.
On Wednesday morning, the presumptive GOP nominee, who has largely
self-financed his presidential bid so far, announced that he would be
soliciting checks from small contributors and would soon make a decision
about whether to accept big contributions from the ranks of Republican
megadonors.
But in interviews with more than a dozen major GOP funders, not one on Wednesday would commit to
donating to Trump. Some raised the possibility that they would focus
solely on giving to House or Senate candidates.
Others went further in expressing their discontent: Representatives
of Charles and David Koch, the billionaire industrialists who helped to
bankroll the rise of the tea party, warned the brothers could sit out
the presidential campaign entirely — or even back Hillary Clinton.
With so many of the GOP’s funders closing their checkbooks, battles
over money are breaking out behind closed doors. And as concern grows
that Republicans will suffer a shortfall that could stymie candidates up
and down the ballot, some foresee looming cash fights pitting Trump
against congressional Republicans who are anxious to preserve their
hard-won majorities.
“There will definitely be high competition for resources,” said Curt
Anderson, a former Republican National Committee political director and
veteran party strategist. “There’s going to be a push-and-pull. You have
a nominee that isn’t universally liked, so there’s going to be a lot of
jockeying.”
To say big donors are turned off by Trump might be an understatement.
On the day that the GOP crowned a de facto nominee, some of the party’s
most prolific benefactors talked openly about backing the expected
standard-bearer for the rival party.
Brad Freeman, a Los Angeles investment banker who donated over $1
million to a pro-Jeb Bush super PAC and who has given hundreds of
thousands of dollars to congressional Republicans over the years, said
he planned to donate to “one of the presidential candidates,” though he
declined to say which party he’d support.
“Don’t have to decide before maybe October!” he added.
Perhaps the biggest surprise, though, might be the Kochs. Last month,
Charles Koch told ABC News that it’s “possible” Clinton would make a
better president than Trump. On Wednesday, a spokesman for the brothers
declined to rule out the possibility of backing the former secretary of
state, though he implicitly criticized both her campaign and Trump’s.
Mark Holden, the general counsel and senior vice president at Koch
Industries, said Koch-funded political groups would consider supporting a
general election candidate who is “able to garner support from the
public with a positive message in support of the issues we care about,
and did not engage in personal attacks and mudslinging.”
“That hasn’t happened yet and there is no indication that this will
happen given the current tone and tenor of the various campaigns,” he
added.
(On Thursday, a spokesman for the Koch-funded political arm Freedom
Partners sought to clarify their position, indicating it was unlikely
the Kochs would support Clinton. Her “big-government” policies, the
spokesman said, were out-of-step with their goals.)
Even before Trump’s Indiana win, party officials had expressed
concern about the state of the GOP’s finances — much of it surrounding
the Republican National Committee, which ended March with just $16
million on hand and nearly $2 million in outstanding debt. Taken
together, the bank account is a fraction of where the committee had been
at similar points in 2008 and 2012.
The shortfall has raised alarms among congressional candidates in key
battleground states, who traditionally rely on the committee to fund an
aggressive field program. The RNC recently acknowledged that it would
be directing field staffers to those states later than it initially
hoped to.
Behind the scenes, tensions have grown. The RNC recently abruptly
canceled a meeting with Pennsylvania Republicans to discuss planned
field efforts, leading some party officials to express private
frustration, according to three sources familiar with the situation. (An
RNC spokeswoman said there had been a scheduling conflict, but the
meeting had been rescheduled.) Adding to the strain, last month the RNC
told The New York Times that it would establish a Senate Fund to boost
candidates in tough races. Yet before announcing the program, it didn’t
give a heads up to the National Republican Senatorial Committee, leaving
staffers there fuming.
“First anyone here heard of it was in The New York Times,” an NRSC official said.
The RNC declined to directly address the back-and-forth with the
Senate committee but said in a statement that “beyond ensuring we win
back the White House we are committed to maintaining majorities in the
House and Senate.”
With Trump clinching the nomination, the presumptive nominee and the
RNC can establish a joint fundraising program that would allow the
businessman to simultaneously raise money for himself and the committee.
The RNC has attributed its cash shortfall to the protracted nature of
the primary, making it impossible for the committee to reach such an
agreement until now.
But, even as Trump embraces the mantle of GOP standard-bearer,
questions persist about his ability to raise funds. The real estate
mogul has shunned fundraising and lacks the donor network most party
nominees typically have. He has railed against lobbyists and rainmakers
and has bragged that, unlike other candidates seeking the presidency, he
can’t be influenced by megadonors.
Yet as he turns to the general election, Trump will be relying on GOP
contributors. The businessman said on Wednesday that, after spending
more than $40 million out of his own pocket on the primary, he would
only partly self-fund the fall campaign.
Many of the GOP’s biggest financiers, though, won’t commit to helping
Trump bankroll what’s expected to be a challenging general election
campaign.
“Will be watching it all carefully,” said Lawrence Bathgate, a
prominent New Jersey attorney and former RNC finance chairman. “Very
unusual cycle.”
“My wife would like me to give it up all together,” said Anthony
Gioia, a major GOP contributor and former ambassador, adding that he was
evaluating his options.
A spokesman for Las Vegas casino mogul Sheldon Adelson declined to
comment on his plans. So, too, did representatives of New York City
hedge fund billionaire Paul Singer. A spokesman for the Ricketts family,
major GOP givers and owners of the Chicago Cubs, said no decision had
been made on whether they’ll invest in the presidential race.
Others say they’re turning their attention to critical down-ballot
contests, where candidates could find themselves at risk if Trump tanks.
Randy Kendrick, the wife of Arizona Diamondbacks owner Ken Kendrick and
a player in the Koch fundraising network, said she would be focused on
funding congressional races. So, too, did Frayda Levy, a board member of
the anti-tax Club for Growth and the Koch-funded Americans for
Prosperity.
“If and how to participate in the presidential remains to be seen,” she added.
Said George Seay, a Dallas investor who was a major fundraiser for
Marco Rubio: “I have gotten involved in some Senate races, but I’m
pretty much sidelined politically for now.”
In some corners of the GOP fundraising world, the mood on Wednesday
was downright morose. During an interview, one of Washington’s most
influential lobbyists joked that he was considering opening up the
window of his high-rise office building and jumping.
Others, though, were more sanguine. Trump, they reasoned, might not be so bad after all.
“I think we'll go through an initial phase of holding back,” said
former Minnesota Rep. Vin Weber, a prominent Washington lobbyist. “If
Trump looks good, he'll convert all sorts of donors.”
History Dept.
These mega-money people Need to consider two things. If Hillary gets to the White House it will be an other Obama term and we know how effective Congress has been in that situation. The second point for them to consider is that the people are very upset with most of the members of Congress and intend to elect people to work with Trump. So work with Trump and we will have a smooth working government to the benefit of all of America
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