There’s no denying at this point that Donald Trump’s finances are inevitably taking a hard hit, among his various and mounting legal troubles. Frankly, how could they not be? The former president is being hit with lawsuits, court orders, depositions, and increasingly serious accusations and investigations at every turn now — all of which require extensive legal representation that he’s apparently struggling to even find these days — as all his crimes begin to crash down around him now that he no longer enjoys the protections of the presidency.
But honestly, we didn’t know it was quite this dire.
Axios is now out with a report on new filings with the Federal Election Commission that show Donald Trump’s Save America political action committee (PAC) has spent a staggering $1 million in legal fees — all in just the month of July ALONE.
Axios’ Sareen Habeshian reports, “Trump and his allies are involved in several investigations related to the 2020 presidential election. Meanwhile, New York’s attorney general is conducting a civil investigation into the Trump Organization. Trump’s legal bills could go up even higher now that he has filed a lawsuit in response to the FBI’s search of his Mar-a-Lago residence this month.”
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“The PAC paid 12 law firms a total of about $964,433 in July, up from around $555,000 the month before, according to the filings published Saturday,” the bombshell new report reveals. “Save America has spent almost $25 million so far this year and has more than $99 million on hand, Business Insider reported. The money is allowed to be used to pay Trump’s legal bills due to the lenient rules governing the use of PAC funds, CNBC reported.”
To make matters that much worse still, this million-dollar bank account hit comes amid reports that the Republican National Committee has also been footing an excessive amount of the scandal-ridden former president’s mounting legal bills — though, the entity has made it clear that the checks will stop the very moment that Donald Trump officially announces his 2020 presidential candidacy. I suppose we certainly no longer have to wonder why he hasn’t taken that step yet.
According to ABC News’s Jon Karl’s new book, Trump was also warned by RNC chair Ronna McDaniel that should the former president form his own new party, as he was allegedly close to doing at one point, the financial bankroll from the RNC would also be cut off cold turkey.
As it stands, it’s unclear as to whether or not all of these enormous legal fees are going to cover services that have been/are/will be utilized by the former president himself. However, the news does come on the heels of recent reporting that claimed Trump’s PAC took a two-million-dollar hit to provide legal services for individuals who were serving as witnesses in the January 6th House Select Committee’s explosive public hearings.
The man is losing his reputation, his allies, and possibly his literal freedom, and now it looks like the money is rapidly on its way out as well.
Read the full report from Axios here.
Featured image via Political Tribune Gallery