Washington: Presumptive Republican presidential nominee Donald Trump and his party leadership have entered into a joint fundraising agreement in the run up to the November general elections and are expecting to raise more than $1 billion.
The new agreement announced on Tuesday is a change from the primary election cycle wherein Trump self-funded his campaign running into more than $40 million.
For the presidential election cycle, Republican party and his campaign is expecting to raise more than $1 billion. The Republican National Committee (RNC) chairman Reince Priebus announced the RNC and 'Donald J Trump for President' have entered into joint fundraising agreements (JFAs).
This will allow the 'Donald J Trump for President' campaign to raise funds the national party will use to elect Republicans at all levels this cycle.
"The RNC is excited to team up with the Trump campaign to expand the robust ground, data, and digital operation we have in place to elect Republicans up and down the ballot," Priebus said.
"Donald Trump knows the importance of keeping our Republican majorities at the local, state and national level and these joint fundraising agreements are another vital step in making that happen," he said, adding that Trump has received millions more votes than any candidate in the history of the Republican Party.
"By working together with the RNC to raise support for Republicans everywhere, we are going to defeat Hillary Clinton, keep Republican majorities in Congress and in the states, and Make America Great Again," said Trump in a statement.
RNC Finance chairman Lew Eisenberg has been selected to be the Finance Chair of Trump Victory. He will work closely with Trump Campaign Finance Chair Steven Mnuchin to ensure a successful fundraising apparatus through November, a statement said.
Eisenberg has already helped the RNC raise a record $ 135 million in support this cycle. The fundraising agreements will establish two joint fundraising committees: Trump Victory and Trump Make America Great Again Committee.
Trump Victory is a joint fundraising committee between the RNC, Donald J Trump for President and the State Republican Parties in the states of Arkansas, Connecticut, Louisiana, Mississippi, New Jersey, New York, South Carolina, Tennessee, Virginia, West Virginia and Wyoming.
The Trump Make America Great Again Committee is a joint fundraising committee between the RNC and Donald J Trump for President. The maximum contribution an individual can give to Trump Victory is $449,400.
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Updated Date: May 18, 2016 11:39:43 IST