President Donald Trump announced on Friday that he plans to spend between $400 million and $500 million to influence key races in the upcoming midterm elections, while also retaining a portion of funds for future contests. Speaking at the White House, Trump emphasized his control over the financial resources, stating that the money is his to allocate as he sees fit, despite calls from fellow Republicans for more immediate support.

“I’m going to spend whatever amount of money is necessary,” Trump said, expressing confidence that Republicans can perform well in the November elections. However, he acknowledged his intention to hold back some funds for the 2028 election cycle, indicating a long-term investment strategy. “I expect to have money left over, and we can use that for ’28,” he noted.

The Republican Party faces significant challenges in maintaining its hold on Congress amid declining approval ratings for Trump. Analysts suggest the GOP is at considerable risk of losing control of the House and potentially the Senate. Despite some candidates distancing themselves from the former president to appeal to moderate voters, many remain reliant on his financial backing to bolster their campaigns.

Trump estimated his total political war chest at “close to a billion dollars,” a figure that appears to combine various sources, including campaign funds and money from the Republican National Committee. According to Federal Election Commission records, MAGA Inc., Trump’s political action committee, holds approximately $403 million on hand.

To date in 2026, Trump has made one major campaign expenditure, supporting Senator Darlene Graham of South Carolina during her successful Republican primary. Graham’s seat is widely viewed as secure for the GOP, but many other Republican candidates are in more competitive contests, facing strong Democratic opposition.

While some within the party criticize Trump for being cautious with his spending, Trump reaffirmed his commitment to contributing to what he described as “good Republicans” in various races. His financial backing is seen as a critical factor in shaping the party’s prospects this election cycle as well as preparing for future campaigns.