President Donald Trump is planning to set up a new political action committee (PAC) that will allow him to fundraise for federal election candidates and perhaps retain influence in the Republican Party.
The president will establish a leadership PAC, according to the New York Times, and is set to announce the move this week—even as his campaign files lawsuits challenging the election results in Pennsylvania and likely elsewhere.
The PAC would be able to spend unlimited amounts to support candidates for federal office in what is known as independent expenditure. However, it would be limited to donations of $5000 per year per donor.
The new PAC could accept donations from an unlimited number of donors and Trump's campaign committee, Donald J. Trump for President, would be able to contribute within the legal limitations.
"The president always planned to do this, win or lose," campaign spokesperson Tim Murtaugh told the Times.
Murtaugh said the new PAC would be set up "so he [Trump] can support candidates and issues he cares about, such as combating voter fraud."
The PAC would not be able to help Trump in any future bid for office because of Federal Election Commission (FEC) regulations, but it could allow him to remain a force in the Republican Party and an important source of funding for GOP candidates.
The announcement comes as the Trump campaign has sent a series of fundraising emails to those on its mailing list, citing unsubstantiated claims of voter fraud as they ask for donations to an "election defense fund."
The Trump campaign has repeatedly made accusations of fraud and irregularities in its emails since election day but none of the allegations have been proven so far.
However, not all the money contributed by the president's supporters will go challenging the election results. According to the fine print, a significant amount will be used to pay down the campaign's debts.
Sixty percent of contributions to the joint fundraising committee operated by the Trump campaign and the Republican National Committee (RNC) will be sent to the campaign's general election account in order to retire debt.
If the debt is paid off, that money will be sent to the campaign's recount account, while 40 percent will be deposited in the RNC's operating account. Further outstanding funds will be sent to the GOP's legal proceedings account or headquarters account.
Contributions to the Trump campaign will be treated similarly, with 50 percent being used to pay down debt and the remainder going into the recount account.
