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Going Broke? Donald Trump Granted Second Financial Disclosure Extension by FEC, Hides Specifics Details Regarding His On-Hand Cash

donald trump granted second financial disclosure extension fec
Source: mega

Jun. 26 2024, Published 2:10 p.m. ET

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Has the well dried out?

Former President Donald Trump has obtained a 90-day extension from the U.S. Federal Election Commission (FEC) to file his personal financial reports.

The decision has raised questions and speculation regarding the presumptive GOP nominee's financial obligations.

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donald trump granted second financial disclosure extension fec
Source: mega

Originally due on May 15, Trump's financial report deadline was recently postponed to August.

One of the former president's attorneys mentioned the complexities of his financial holdings, which supported Trump's request for an extension.

Originally due on May 15, Trump's financial report deadline was postponed to July 1, and now, a hard copy of the report with Trump's original signature is expected by August 15, 2024, as stated by the FEC.

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donald trump granted second financial disclosure extension fec
Source: mega

Donations flowed in after Donald Trump was found guilty in the Stormy Daniels 'hush money' case.

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The extension comes after a recent report highlighting a surge in Trump's campaign donations, outpacing President Joe Biden's fundraising efforts. Despite Biden's significant campaign funding of $212 million, Trump managed to raise $52 million within 24 hours following his recent conviction in the Stormy Daniels hush money criminal trial.

Trump has garnered a total of $283 million in campaign funds, surpassing Biden by $57 million. However, Trump's campaign expenses have been substantial, with a reported $100 million spent on legal fees since leaving office in 2021.

Notably, all legal costs were covered by donations aimed at challenging the 2020 election results.

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donald trump granted second financial disclosure extension fec
Source: mega

Donald Trump's legal costs were covered by donations aimed at challenging the 2020 election results.

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The Biden campaign’s massive funding to date has allowed it to spend on multimillion-dollar ad campaigns, staff up in pivotal battleground states and specifically target voters in key demographics.

“The money we continue to raise matters, and it’s helping the campaign build out an operation that invests in reaching and winning the voters who will decide this election – a stark contrast to Trump’s PR stunts and photo-ops that he’s pretending is a campaign,” Biden campaign manager Julie Chavez Rodriguez said in a statement. “From person-to-person organizing to a historic paid media campaign, we’re doing the work to reach and earn the votes needed to win in November.”

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donald trump granted second financial disclosure extension fec
Source: mega

Donald Trump was convicted of 34 crimes in New York.

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Recent court rulings have added to Trump's financial burdens, with fines totaling $433 million imposed for financial misconduct. This includes charges of inflating property values for tax benefits and loan terms.

In addition, Trump, along with his eldest sons, Don Jr. and Eric, faces fines and bans from leading New York companies.

The two eldest Trump sons were fined $4 million each for their part in the business empire's infractions.

Bloomberg News provided quotes and sources used in this article.

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