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Trump Converts $50 Million Loan Into a Donation

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Donald Trump’s campaign announced that he “has forgiven more than $50 million in loans he made to finance his presidential bid, converting them into contributions in an effort to reassure GOP donors that he is personally invested in the effort,” the Washington Post reports.

“By turning the loans into donations, Trump’s campaign cannot repay the candidate, even if a surplus arises.  The campaign, however, can continue to reimburse Trump’s companies, and those of his children, for campaign-related expenses, including travel.”

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About Political Wire

goddard-bw-snapshotTaegan Goddard is the founder of Political Wire, one of the earliest and most influential political web sites. He also runs Political Job Hunt, Electoral Vote Map and the Political Dictionary.

Goddard spent more than a decade as managing director and chief operating officer of a prominent investment firm in New York City. Previously, he was a policy adviser to a U.S. Senator and Governor.

Goddard is also co-author of You Won - Now What? (Scribner, 1998), a political management book hailed by prominent journalists and politicians from both parties. In addition, Goddard's essays on politics and public policy have appeared in dozens of newspapers across the country.

Goddard earned degrees from Vassar College and Harvard University. He lives in New York with his wife and three sons.

Goddard is the owner of Goddard Media LLC.

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