Chapter 1
MAGA Inc
MAGA Inc. is the super PAC aligned with President Trump. A super PAC may raise unlimited sums, but a federal officeholder may not direct that money. As filed with the Federal Election Commission, it had raised $424.4 million and spent $32 million by 31 August 2026, and held $415.8 million. Then it began to spend. In the six weeks to 14 October it paid out $276.5 million, $225 million of it to two new super PACs that spend on its side, and its cash fell to $164.3 million. How much of the war chest reaches these elections, and through whom, is the measure of the story.
Chapter 2
The president has described the money as his
The president has described the money as his. On 4 September he said he had “close to $1 billion” in the super PAC and would allocate “$400 or $500 million” to the midterms. The filing four days earlier showed less than half the billion; an allied non-profit that files no such reports is reported to hold more, which is unconfirmed. The allocation he named is within what the PAC held. How much of it becomes spending on these elections, and where, is the open question its later filings will answer.
Chapter 3
His own words are the basis of a complaint
His own words are the basis of a complaint. On 14 September the Campaign Legal Center asked the FEC to investigate whether he controls the PAC, citing his statement “This is my money that I control.” MAGA Inc. denies any impropriety and says it complies with the law, CBS News reported. The complaint cannot be acted on: the commission has had two of its six members since spring 2025, short of the four needed to open an investigation or issue a fine, though it still collects and publishes reports.
Chapter 4
Its spending decisions have begun to show where Republicans see their…
Its spending decisions have begun to show where Republicans see their House majority at risk. In October the PAC pulled planned spending from two Republican-held House seats, New Jersey’s 7th and Iowa’s 1st, Fox News reported, and an offshoot dropped nearly $1 million from Nevada’s 3rd. The Congressional Leadership Fund, the House Republicans’ main super PAC, cancelled its remaining advertising in the first two seats the same week.
Chapter 5
The money moved late and mostly at one remove
The money moved late and mostly at one remove. Two super PACs registered on 1 September, No Going Back PAC, whose registration lists MAGA Inc.’s treasurer, and Safety & Affordability PAC, received $200 million and $25 million from it. No Going Back spent most of its share on advertising against Democratic Senate candidates in Michigan, Ohio, North Carolina and New Hampshire. MAGA Inc.’s own advertising went almost entirely to the Texas Senate race. On 20 October the president said more than $400 million would be spent by Election Day; the report filed after the election will show whether it was.
And now
MAGA Inc. held $164.3 million on 14 October, its last report before the vote; anything spent after that will not be public until December. It had moved $225 million to two allied super PACs, No Going Back and Safety & Affordability.
Those PACs' 24-hour notices show where the money went in the final fortnight. No Going Back's largest buys are against House Democrats in Florida, Montana, Pennsylvania and Texas, and against Chris Pappas in New Hampshire's Senate race. Safety & Affordability's are against Democrats in Michigan, Arizona, Texas, Maine and Wisconsin. MAGA Inc.'s own largest, $7.2 million on 21 October, went against James Talarico in Texas. No Going Back also cancelled more than $1 million booked for Jennifer Balkcom, the Republican in North Carolina's 11th District.
The tracker AdImpact puts the three PACs' planned advertising at about $315 million. The president has said more than $400 million will be spent by Election Day; that is checkable when the post-general report is filed on 3 December.
A second complaint, from Common Cause, says ads the president directs are coordinated rather than independent. The FEC still has too few members to act on it.
Where it stands today →