Donald Trump has forgiven $50 million in loans he made to his campaign.
“[Trump] loaned $50 million to the campaign. He’s now forgiven that loan. So that is a contribution,” Steve Mnuchin, Trump’s campaign finance chairman, told CNBC Thursday. “[Trump] has also said he will contribute significantly more money.”
Trump’s team released a statement later in the day, saying, “Mr. Trump has fully extinguished (terminated) this loan per his commitment. Therefore, he has personally invested in excess of $50 million dollars in the future of our country.”
The announcement comes as Trump’s fundraising efforts are escalating towards the general election. On Tuesday, in light of May fundraising numbers showing him significantly behind Hillary Clinton, Trump put out a statement saying, “If need be, there could be unlimited ‘cash on hand’ as I would put up my own money, as I have already done through the primaries.”
- The Fight to Save the Salmon
- Inside the World of Black Bitcoin, Where Crypto Is About Making More Than Just Money
- The 'Great Resignation' Is Finally Getting Companies to Take Burnout Seriously. Is It Enough?
- Suddenly, Everyone on TV Is Very Rich or Very Poor. What Happened?
- Colin Powell Reflects on His Mistakes in Unpublished TIME Interview
- Business Travel's Demise Could Have Far-Reaching Consequences
- If the U.S. Spends Big on Climate, the Rest of the World Might Follow