Trump’s MAGA Inc. is sitting on $350M. Republicans want to see it.

President Donald Trump is trying to boost Republicans’ medium-term prospects by branding Democrats as communists, enforcing a fragile ceasefire with Iran and touting lower gasoline prices.

But some Republicans say he spent more than $350 million on his war chest, MAGA Inc. He wishes he could spend it in his super PAC.

“We didn’t leave our most powerful missiles on board when we tried to crush Iran. Money is the political equivalent in politics. Voters’ mentality about the economy normally locks in by Labor Day after a summer in the backyard and paying for summer vacation gas,” said one GOP lobbyist and donor who, like others in this report, is granted free speech. “Now is the time to sell the message: America is 250, the world loves America, the Democrats are leftist again, and we closed the border.”

MAGA Inc. has not spent directly on the race since March, when it spent $17,900.88 to support Rep. Clay Fuller’s campaign for his House seat in Georgia. Since then, it has given $560,000 to MAGA KY, which spent it supporting Rep. Thomas Massie’s (R-Ky.) winning opponent, and also paid other fees, such as consulting, that account for expenses through the end of May, according to FEC filings.

Polls have repeatedly shown Serious reaction to Trump and Republican candidates are clamoring for Trump to take action to raise those ratings — for example, to focus more on affordability concerns. In addition, Trump has taken actions that could mess with Republicans’ chances in some races, such as the GOP Senate primaries in Texas.

Trump’s support of Texas attorney general Ken Paxton over incumbent Senator John Cornyn in this race has prepared Paxton for a race. Tough race in November and a situation that Republicans worry Democrats could win.

He also refused to sign a major victory lap for a housing bill that would address Republicans’ major vulnerability (affordability) in order to pressure Congress to pass an election integrity bill. And he called on Congress to end birthright citizenship after the Supreme Court ruled to continue it. The GOP-controlled Senate does not have enough votes to pass any of the president’s priorities.

But some Republicans say Trump has enough money for advertising to counter all of this; if one is willing to spend.

“What makes you think they’re going to spend it? We were expecting the cavalry,” said Matthew Bartlett, a Republican strategist and former Trump appointee to the State Department in the first administration. “Every day counts in terms of shaping emotions and ideas, and when you have limited time, the sooner you have to attack. So the concept of waiting is inherently anxiety-provoking… but more importantly, are you actually going to play?”

While super PACs are expected to operate independently, candidates, including Trump, often have significant influence over the organizations.

Trump’s chief political director, James Blair, told MAGA Inc. last week that the money would be spent but would not disclose a timeline, amount or plan for targeting specific states.

Blair said on the Sean Spicer podcast: “I always like to say that I won’t be breaking any news for the president, I won’t say specifically how much will be spent. But let me say this, the president will be spending a significant amount of resources.” Asked if the money would be spent in July, Blair said “we’ll see” but suggested action would happen “very soon”.

MAGA Inc. “Despite Politico’s best efforts, MAGA Inc. has not changed its policy of refusing to disclose its strategy to the press,” spokesman Alex Pfeiffer said.

A senior White House official said decisions about spending MAGA Inc. money “do not have to be made until after the convention.”set to start September 9.

Angry donors may want to plan now, the official added, but we know this is the president’s party and he will make the strategic decisions about how to do this. It’s in its own timeline.”

Although Republican donors didn’t panic for much of the spring — in fact Several told POLITICO in May They hoped a road map on spending would arrive soon, but unless action is taken by the summer this “mild panic” will not set in.

As temperatures soar to 100 degrees in Washington and the calendar moves toward July, some donors are now questioning whether the intention was to spend the money.

“There is a golden promise and the question is, when you reach the end of the rainbow, is the bucket empty or full?” one GOP donor said.

Republicans are banking on the possibility of Trump spreading millions in MAGA Inc. across the country to shore up vulnerable Senate and House Republicans. But until we see a clear road map, Republican candidates and campaigns will feel uncertain.

“Especially to defend seats like Texas where they put us in a much more difficult position than they did under Cornyn,” a former Trump official said.

A person close to the White House expressed concerns from donors about whether Trump would actually spend MAGA Inc.’s money in a “well-placed” manner.

“I believe you won’t spend it on other races and people, but I hope I’m wrong,” the person said.

One line of thinking is that the White House will wait until all primaries are over to spend, according to two people who were granted anonymity to discuss the talks. While primaries have not yet been held in some states such as Michigan and Wisconsin, states such as Texas and Georgia have entered the general election phase.

“I think the plan is still taking shape in many ways,” said one person close to the White House. “They’re going to be under pressure to be transparent about where the money is going, so I think a lot of those conversations will happen internally.”

There was also a Supreme Court decision announced on Tuesday that remains valid. Supreme Courtlowered the limits Coordinated spending between candidates and political parties. Trump strengthens parties by allowing them to directly support their preferred candidates, but MAGA Inc. He welcomed the decision, which could potentially weaken the influence of super PACs such as

Even without the president’s super PAC money, Democrats were already looking at a problem. significant disadvantage Removing the party’s fundraising and coordinated spending cap in this midterm cycle could further strengthen Republicans, who tend to get more money from big donors.

“If Republicans want to defy political gravity and avoid an outcome similar to the 2018 line, they need all the resources they can get as quickly as possible,” said former Rep. Carlos Curbelo (R-Fla.). “While Democrats may not be in solid financial shape, Republicans will need to shift their base and persuade undecided voters against the tide. That takes a lot of money.”

As of the end of May, the Republican National Committee had $125.5 million in cash on hand – highest ever end-of-month amount – GOP candidates still eyeing MAGA money.

That and other infusions of cash reassure some Republicans.

“I don’t think there’s a single important race in the country where billions of dollars won’t be spent by both parties,” said Mark Graul, a Wisconsin-based GOP strategist. “So I don’t think the lack of funding for critical congressional races will be a big problem.”

The Senate Leadership Fund, a super PAC aligned with Senate Majority Leader John Thune, is optimistic that Trump will provide money to help maintain the GOP majority in November.

“There is no greater beneficiary of the Republican House and Senate than President Trump,” said Alex Latcham, SLF executive director.

At least one 2024 MAGA Inc. His donor said the lack of guidance hasn’t shaken his confidence in the team.

“Relax, I’m sure they have a plan. They told everyone we had a plan until they didn’t,” the donor said. “I don’t think the party will have any evil plans to spend the money. You have to have trust.”

“I don’t know what they do with the money,” the donor added, “but they probably don’t party in the Cayman Islands unless I hear otherwise.”

Megan Messerly and Jessica Piper contributed to this report.