Trump is sitting on a $400 million war chest ahead of the midterms. But how will he spend it?

With just two months left before the midterm elections, President Donald Trump is sitting on a $400 million “war chest,” according to Federal Election Commission filings, and Republicans are asking how it will be spent. A nonprofit tied to Trump’s super PAC, MAGA Inc., Securing American Greatness, launched its first nationwide ad this week, but it focuses on Trump rather than local congressional candidates. MAGA Inc.’s meaningful so far donation was $827,000 to Sen. Darline Graham’s campaign; otherwise it has spent about $18,000 on a midterm race in 2026. Trump says more spending is coming, including for candidates he supports.