Already this year, the Trump administration has laid out a feast of benefits for big business: establishing new corporate tax cuts and sweeping deregulation in the “One Big Beautiful Bill,” dropping or halting at least 165 corporate enforcement cases, and appointing industry cheerleaders in top agencies.
While the Trump administration and the Republican-controlled Congress were enshrining these measures over the first half of the year, billionaires and corporations were giving hundreds of millions of dollars to the super PACs closely tied to President Donald Trump and congressional leaders. For most of the top-spending super PACs, donations received in the first six months of this year only became public last week, when their mid-year reports were filed with the Federal Election Commission.
With fortunes being poured into these powerhouse spending groups, some of the top donors this year to Trump’s MAGA Inc. were cryptocurrency interests, the fossil fuel industry, and billionaires in Elon Musk’s donor network. The Trump administration’s pro-industry deregulations—and potential government contracts with megadonor-tied firms like SpaceX—are valued in the tens of billions of dollars.
Trump’s War Chest
The super PAC MAGA Inc. raised a whopping $176.9 million in the first six months of this year, ending June with $196.1 million in cash on hand.
The nonpartisan Brennan Center for Justice noted this week that the Trump super PAC’s haul, from the end of Election Day through the first half of this year, was more than six times that of his predecessor’s, shattering fundraising records on behalf of a president who is ineligible to run again for the highest office. It’s just one group in Trump’s political operation: combined with his leadership PAC and joint fundraising committee, Trump has around $246 million on hand that is ready to deploy in the midterms against his political opponents.
