Media: Trump amasses huge political war chest to fight midterm headwinds

President Donald Trump said his main concern ahead of the November midterm elections is losing Republican control of Congress, as new campaign finance filings show his political operation has built an unprecedented cash advantage.

Trump’s political committees and the Republican National Committee amassed $483 million by the end of December, nearly three times the $167 million held collectively by Democratic party committees and allied groups, according to foreign media reports.

Much of the money has come from wealthy donors through high-profile fundraising events at Trump’s resorts, as well as from small-dollar contributions solicited through email and text appeals to his supporter base.

Since Trump’s return to the White House, the pro-Trump super PAC MAGA Inc. has raised $313 million alone, including eight-figure donations from major business figures such as pipeline billionaire Kelcy Warren, trader Jeff Yass, OpenAI co-founder Greg Brockman and Crypto.com operator Foris DAX Inc.

Despite the financial edge, historical trends favour Democrats in midterm elections, with the president’s party typically losing seats. Republicans lost 40 House seats in 2018 during Trump’s first term, and only twice since 1938 has the party in power gained House seats in a midterm.

Democrats need only a small number of seats to regain control of the House, and recent polls show voter dissatisfaction with Trump’s handling of the economy, deportations and foreign policy. Several recent elections have also seen Democrats outperform expectations, including a Texas state Senate race where a Democrat won in a district Trump carried comfortably in 2024.

Reflecting the shifting political landscape, the Cook Political Report recently moved 18 House races toward Democrats, giving them 189 seats considered solidly Democratic, compared with 186 for Republicans.

Trump is already deploying his campaign funds to influence races, backing loyal candidates, intervening in competitive contests and targeting lawmakers who have opposed him, the report says. MAGA Inc. recently spent $1.7 million supporting Republican Matt Van Epps in a Tennessee special election, which he won by a narrower margin than Republicans had previously achieved in the district.

Some Trump allies privately acknowledge the risk of losing the House, which Trump has warned could lead to another impeachment effort. House Speaker Mike Johnson, however, said Republicans’ fundraising strength gives him confidence the party can defy historical trends and hold onto its majority.

By Tamilla Hasanova