Donald Trump pledges to spend $400mn on Republican Party midterm campaigns

{"text":[[{"start":11.68,"text":"Donald Trump has said he expects to spend more than $400mn on advertising and voter outreach by midterm election day, as he seeks to ensure his struggling Republican Party maintains control of Congress on November 3."}],[{"start":26.4,"text":"In a social media post on Tuesday, the president said it was his “Great Honor” to deploy the vast sum to support candidates in what he claimed were the “Most Important Midterm Elections in our Country’s History”."}],[{"start":38.08,"text":"Trump did not explain where the funds would be coming from, but his Maga Inc Super Pac is sitting on a war chest of roughly $400mn, mostly thanks to donations from corporate mega-donors and tech billionaires."}],[{"start":51.8,"text":"The announcement came after it was revealed that billionaire entrepreneur Mike Bloomberg, was spending more than $80mn to support Democrats across the US."}],[{"start":61.2,"text":"Howard Wolfson, an adviser to Bloomberg, told the FT the former New York mayor was “an old-fashioned believer in our system of checks and balances” and “has a set of causes and issues that he believes in”. Wolfson added that the 84-year-old was “optimistic that election day will be a good one”."}],[{"start":null,"text":"

"}],[{"start":79.32,"text":"However, Republicans, who polls show are on track to lose the House of Representatives and possibly the Senate, have a large fundraising advantage ahead of next month’s vote, which set to be the most expensive race ever."}],[{"start":93.22,"text":"Last week, Elon Musk revealed he was spending more than $275mn to help Republicans, including tens of millions of dollars in Texas, where some of his companies are based and where they have benefited from tax incentives."}],[{"start":108.04,"text":"Bloomberg’s donation — which includes $16mn to House Majority Pac, the main fundraising vehicle for House Democrats, and $24mn to Everytown for Gun Safety, a group supporting several Democratic candidates — makes him one of the largest disclosed donors to the Democratic Party this cycle. The sum pledged by the billionaire was first reported by The New York Times."}],[{"start":130.32,"text":"House Majority Pac president Mike Smith said his organisation “could not be more grateful for Mayor Mike Bloomberg’s continued support of House Democrats” and said the donation would help “put an end to the Republican agenda that has made life more expensive for the American people”."}],[{"start":145.46,"text":"Everytown for Gun Safety said in a statement that it was “laser focused on . . . flipping the House” and was concentrating on supporting eight candidates in states including Florida, Michigan, Pennsylvania and Iowa."}],[{"start":157.5,"text":"The vast majority of large donations in this cycle, however, have gone to Republicans. Sixteen of the country’s 20 largest donors have ploughed money into GOP campaigns, including venture capital investor Marc Andreessen and billionaire Jeff Yass. Investor George Soros is the standout donor on the Democrat side, having spent more than $100mn supporting various groups."}],[{"start":182.82,"text":"Republicans have dramatically increased their ad spending in recent weeks, including in midterm races not previously considered competitive, due to polling that has shown Democrats have gained ground on their rivals."}],[{"start":194.06,"text":"Trump said on Tuesday that “more than 300 Million Dollars has already been spent” on advertising, voter outreach and rallies. It was unclear whether this included spending by other groups, such as the Republican National Committee, which had more than $125mn in cash at the start of last month."}],[{"start":218.8,"text":""}]],"url":"https://audio.ftcn.net.cn/album/a_1792542099_6207.mp3"}