Donald Trump converts $50 million campaign loan into donation

Republican Donald Trump, facing questions about his meager fundraising and how he spends his campaign money, announced Thursday that he has converted the nearly $50 million he has loaned his campaign into an outright donation.

“This money is a contribution in order to Make America Great Again,” the real-estate mogul said in a statement, invoking his campaign slogan.

In a news release, campaign officials said the move demonstrates that Trump “is not beholden to the special interests that have corrupted Washington, D.C.”

Campaign-finance reports filed Monday offered a bleak picture of Trump’s balance sheet, showing he raised just $3.1 million from donors last month, as he became the Republican’s presumptive nominee. He gave his campaign a $2.2 million loan last month, bringing his loan total to $45.7 million through the end of May.

Trump ended last month with just $1.3 million in available cash to Democratic rival Hillary Clinton’s $42 million. Trump and his allies say the disparity is meaningless because he could opt to write more checks in the months ahead.

But Trump is moving to raise more cash, and his son, Eric, told CNN that a fundraiser this week brought in $6 million. Campaign officials also boasted that an emailed fundraising solicitation from Trump this week yielded $2 million in 12 hours.

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