Trump-aligned MAGA Inc builds stockpile of more than $400 million

By Kanishka Singh

WASHINGTON, July 20 (Reuters) - MAGA Inc, a campaign funding group aligned with U.S. President Donald Trump, has amassed more than $400 million, which the Republican leader's allies will hope to use for the midterm elections.

Here are the details:

• A filing with the Federal Election Commission showed the super political action committee, which began the year with $300 million, had funds of more than $400 million by the end of June.

• In June, MAGA Inc raised $1 million from NASA administrator Jared Isaacman and $10 million from billionaires Tyler Winklevoss and Cameron Winklevoss, who liquidated bitcoin for the contributions, the filing showed.

• Republicans hold narrow majorities in the House of Representatives and the Senate heading into the November midterm elections.

• MAGA Inc spent nearly $377 million in the 2024 elections, which Trump won.

• In the months leading to the midterm vote, Trump's approval rating has been weighed down by the unpopular U.S.-Israeli war on Iran and high energy prices.

(Reporting by Kanishka Singh in Washington; Editing by Kate Mayberry)