Seth Klarman, a billionaire hedge fund manager and former major Republican donor, said he is planning to use money from the GOP tax cuts to “elect Democrats to the Senate and the House of Representatives.”
“I received a tax cut I neither need nor want,” Klarman told The Boston Globe.
“I’m choosing to invest it to fight the administration’s flawed policies and to elect Democrats to the Senate and House of Representatives.”
Klarman, a registered independent and the CEO of Boston’s Baupost Group, said GOP lawmakers have “abandoned their historic beliefs and values,” failing to hold President Trump accountable.
“For the good of the country, the Democrats must take back one or both houses of Congress,” he said.
The Hill added:
According to the Globe, Klarman has given about $222,000 to 78 Democrats running for Congress since the 2016 elections.
He has donated to such lawmakers as Senate Minority Leader Charles Schumer (D-N.Y.) and Rep. Adam Schiff (D-Calif.), according to the Globe.
He has also given money to several nonprofits advocating for issues like gun control and protecting the environment.
Last year during an investment conference, Klarman called Trump a “threat to democracy.”