Trump Sacrifices for America, Permanently Gives Up the $50 Million He Loaned to his Campaign

The Hill Reports

Donald Trump says he has forgiven more than $50 million in loans he made to his Republican primary campaign for president.

“Mr. Trump has fully extinguished this loan per his commitment,” the Trump campaign said Thursday in a statement to reporters.

“Therefore, he has personally invested in excess of $50 million dollars in the future of our country.”

Forgiving the loans is an important step for Trump, the presumptive GOP presidential nominee, who needs to win over skeptical donors.

Despite saying he had self-funded his primary campaign, the money Trump gave was in the form of loans, which meant he could ultimately repay himself using donations from regular contributors.

To forgive his $50 million in loans, Trump needs to send a “loan forgiveness statement” to the Federal Election Commission (FEC).

The FEC hasn’t yet registered the loan forgiveness statement, despite Trump’s national finance chair, Steve Mnuchin, telling CNBC on Thursday, “We just forgave the loan this week.”

Asked on Thursday afternoon whether the presumptive nominee had in fact sent the loan forgiveness letter, Trump’s communications director, Hope Hicks replied, “It will be completed today.”

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