Megadonors Flee Trump As GOP Money Dries Up

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Billionaire Republican megadonor Robert Mercer and his family have cut down their financial support for Trump and the Republican Party.

CNBC reported:

Mercer and his family didn’t make as many political contributions in 2018 as they had in previous cycles, especially in contrast in the 2016 cycle, when Trump ran for president. Political strategists believe Mercer’s lack of involvement this year should sound the alarm for Republicans looking for assistance in the fundraising game when they fight for Trump’s re-election in 2020.

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“They’ve disappeared,” a prominent Republican bundler told CNBC, referring to Mercer and his daughter Rebekah, another prominent GOP backer. “I think they just don’t like being in the spotlight,” this person added.

“He’s out,” said a former associate of Mercer. “He’s not going to play any major role going forward. They’re tired of the attacks from the Democrats and the media constantly ganging up on them.”

The Republican Campaign Finance System Runs on Megadonors

While Democrats have never mastered dark money and super PACs, the Republican system of campaign finance is dependant on them. It is not an overstatement to suggest that a handful of billionaires have an outsized influence on the Republican Party. When these billionaires start giving less money, it leads to the sort of financial problems that the party in the 2018 midterm.

If there is less money being donated, House and state-level Republican candidates end up underfunded. Republicans end up losing close elections that in previous cycles they might have been able to swing because the millions from the big megadonors aren’t filling campaign coffers.

It is a warning sign for 2020. Should the big donors give less to Trump and his party in 2020, they could face a repeat of the bloodbath of 2018, except this time Republicans could lose the Senate and the White House.

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