The Donald Trump campaign and the Republican National Committee have reached a joint fundraising deal for the general election, Fox News Channel and The Wall Street Journal report.
Trump and the RNC have signed two separate agreements.
One deal would create Trump Victory, into which people can donate to the Trump campaign, the RNC and 11 state Republican parties. The ceiling on individual donations for the fund will be $449,000.
"That is a massive increase from 2012 when Mitt Romney's ceiling for the joint fundraising agreement was about $150,000," Fox News reporter Carl Cameron said. "This means with as few as 22 billionaire-type donors maxing out at the $449,000 limit to that joint fund, Trump can get to … the ante for the general election, $1 billion to $1.5 billion. It's a huge deal."
The Wall Street Journal noted that the deal will allow Trump to raise money much more quickly, since the $449,000 limit can tap into a few wealthy donors rather than having to rely on more people to give a maximum $2,700 to Trump campaign directly – the most allowed by federal election law.
The fund also supports down-ballot candidates in the House and Senate, which could ease concerns from those on the ballot that Trump's candidacy could hurt them.
"Now they'll have reason to think Trump's candidacy will bring them money," Cameron said.
The second group, Trump Make America Great Again Committee, will raise money only for Trump and the RNC.
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