Former President Donald Trump is sending a clear message to donors: Invest in me or face the wrath of President Joe Biden’s rollback of Trump-era tax cuts.
Trump sold donors with a pitch that included promises to extend tax cuts for the wealthy while at a New York hotel earlier in May, according to the Washington Post.
“The tax cuts all expire for wealthy and poor and middle income and everything else, but they expire in another seven months and he’s not going to renew them, which means taxes are going to go up by four times,” Trump reportedly said. “You’re going to have the biggest tax increase in history.”
According to the report, Trump said plainly that taxes would go up if he were not reelected, putting donors in a conundrum of whether to kneel to Trump’s lofty investment requests or potentially let Biden’s fundraising lead climb.
The pitch is another attempt from Trump to draw large sums from rich donors. He recently asked for $1 billion toward his campaign from major oil companies.
“As Joe Biden’s backers in Hollywood and Silicon Valley are withholding their support for Biden’s failing campaign, donors across the country are maximizing their efforts to reelect President Trump because they realize we cannot afford another four years of Joe Biden’s terrible policies,” Trump spokeswoman Karoline Leavitt said in a statement to the outlet.
Speaking at the Pierre Hotel, Trump also reportedly said he recently denied a donor’s request to offer him $1 million for his campaign and have lunch, saying, “I’m not having lunch,” and asking for $25 million instead.
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The former president topped Biden’s fundraising in April, beating him by about $25 million in large part due to a massive $50.5 million effort at a billionaire investor’s house. Biden is still well ahead of the former president in cash on hand though.
The Washington Examiner reached out to the White House and the Biden campaign for comment.
