A Year of Big Wins for Big Business: Trump’s Financial Powerhouse
Boosting Big Business
Throughout this year, the Trump administration has been rolling out the red carpet for big business, offering a smorgasbord of benefits. They’ve introduced fresh corporate tax cuts and unleashed a wave of deregulation with their “One Big Beautiful Bill.” Plus, they’ve either dropped or paused a whopping 165 corporate enforcement cases, all while installing industry cheerleaders in top agency positions.
Money Talks
As these pro-business moves were being solidified by Trump and a Republican-led Congress, billionaires and corporations didn’t hold back. They poured hundreds of millions into super PACs closely aligned with President Trump and congressional leaders. Most of these PACs have only just revealed their donations for the first half of the year, thanks to the Federal Election Commission’s mid-year report filings last week.
The Big Spenders
The financial powerhouses backing Trump’s MAGA Inc. this year include cryptocurrency moguls, the fossil fuel sector, and billionaires linked to Elon Musk. Deregulations favoring industries—and lucrative government contracts with megadonor-associated companies like SpaceX—are valued in the tens of billions.
Trump’s War Chest
This year, MAGA Inc., Trump’s super PAC, raked in an impressive $176.9 million in the first six months alone, wrapping up June with $196.1 million ready to be deployed. The nonpartisan Brennan Center for Justice highlighted that this fundraising feat, from the end of Election Day through mid-year, was over six times more than what Trump’s predecessor managed. This shatters previous records for a president who can’t run again. MAGA Inc. is just one cog in Trump’s political machinery, which, when combined with his leadership PAC and joint fundraising committee, totals around $246 million to fuel the midterm battles against his political rivals.
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